----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
      name:  <unnamed>
       log:  D:\Vicard\VV\re\inprogress\BRV\results\prediction1_selection.log
  log type:  text
 opened on:  29 Sep 2017, 20:32:24

. 
. * Table A.12 and A.13 : different bins of export proba  *
. 
. use "$Output\balanced_export_fe", replace

. tsset ijk year
       panel variable:  ijk (unbalanced)
        time variable:  year, 1996 to 2005, but with gaps
                delta:  1 unit

. 
. gen size        = log(quantity/quantity_tot) /*to be consistent with other specs*/

. gen age_ele1_diff       = diff*age_ele1

. g age_ele1_prior        = res_fe_qty*age_ele1

. 
. * pooled prob *
. reghdfe exit_f1 res_fe_qty age_ele1_diff diff age_ele1 age_ele1_prior, absorb(a=ikt b=jkt) vce(cluster ijk) 
(dropped 228099 singleton observations)
(converged in 53 iterations)
(converged in 71 iterations)

HDFE Linear regression                            Number of obs   =  4,885,284
Absorbing 2 HDFE groups                           F(   5,1278993) =   37854.10
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.5526
                                                  Adj R-squared   =     0.3703
                                                  Within R-sq.    =     0.0691
Number of clusters (ijk)     =  1,278,994         Root MSE        =     0.3409

                              (Std. Err. adjusted for 1,278,994 clusters in ijk)
--------------------------------------------------------------------------------
               |               Robust
       exit_f1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
---------------+----------------------------------------------------------------
    res_fe_qty |   -.096736   .0006433  -150.37   0.000    -.0979969   -.0954751
 age_ele1_diff |   .0012767   .0001361     9.38   0.000       .00101    .0015434
          diff |  -.0444681   .0006152   -72.28   0.000    -.0456739   -.0432623
      age_ele1 |  -.0223541   .0001207  -185.26   0.000    -.0225906   -.0221176
age_ele1_prior |   .0041933    .000138    30.39   0.000     .0039228    .0044638
--------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------------------+
   Absorbed FE |  Num. Coefs.  =   Categories  -   Redundant     | 
---------------+-------------------------------------------------|
           ikt |       858621          858621              0     | 
           jkt |       555901          580157          24256     | 
-----------------------------------------------------------------+

. predict proba, xbd
(781,887 missing values generated)

. egen pct_20 = pctile(proba), p(20) 

. egen pct_40 = pctile(proba), p(40) 

. egen pct_60 = pctile(proba), p(60) 

. egen pct_80 = pctile(proba), p(80) 

. su pct_20 pct_40 pct_60 pct_80

    Variable |        Obs        Mean    Std. Dev.       Min        Max
-------------+---------------------------------------------------------
      pct_20 |  5,667,171   -.0199922           0  -.0199922  -.0199922
      pct_40 |  5,667,171    .0884529           0   .0884529   .0884529
      pct_60 |  5,667,171    .2439569           0   .2439569   .2439569
      pct_80 |  5,667,171    .4936686           0   .4936686   .4936686

. gen quin_pooled = .
(5,667,171 missing values generated)

. replace quin_pooled = 1 if proba<pct_20 
(977,057 real changes made)

. replace quin_pooled = 2 if proba>=pct_20 
(4,690,114 real changes made)

. replace quin_pooled = 3 if proba>=pct_40 
(3,713,058 real changes made)

. replace quin_pooled = 4 if proba>=pct_60
(2,736,000 real changes made)

. replace quin_pooled = 5 if proba>=pct_80 
(1,758,943 real changes made)

. replace quin_pooled = . if proba==. 
(781,887 real changes made, 781,887 to missing)

. drop a b pct*

. 
. * prob by size quintile *
. drop if age_ele1==1
(1,527,740 observations deleted)

. egen pct_20 = pctile(size), p(20) 

. egen pct_40 = pctile(size), p(40) 

. egen pct_60 = pctile(size), p(60) 

. egen pct_80 = pctile(size), p(80) 

. gen size_quin = 1 

. replace size_quin = 2 if size>=pct_20
(3,311,545 real changes made)

. replace size_quin = 3 if size>=pct_40
(2,483,659 real changes made)

. replace size_quin = 4 if size>=pct_60
(1,655,773 real changes made)

. replace size_quin = 5 if size>=pct_80
(827,887 real changes made)

. replace size_quin = . if size==.
(0 real changes made)

. drop pct*

. gen quin = .
(4,139,431 missing values generated)

. 
. forvalues i = 1(1)5 {
  2.         reghdfe exit_f1 res_fe_qty age_ele1_diff diff age_ele1 age_ele1_prior if size_quin==`i' , absorb(a=ikt b=jkt) vce(cluster ijk) 
  3.         predict proba`i', xbd
  4.         egen pct_20 = pctile(proba`i'), p(20) 
  5.         egen pct_40 = pctile(proba`i'), p(40) 
  6.         egen pct_60 = pctile(proba`i'), p(60) 
  7.         egen pct_80 = pctile(proba`i'), p(80) 
  8.         su pct_20 pct_40 pct_60 pct_80
  9.         replace quin = 1 if proba`i'<pct_20 & size_quin==`i'
 10.         replace quin = 2 if proba`i'>=pct_20 & size_quin==`i'
 11.         replace quin = 3 if proba`i'>=pct_40 & size_quin==`i'
 12.         replace quin = 4 if proba`i'>=pct_60 & size_quin==`i'
 13.         replace quin = 5 if proba`i'>=pct_80 & size_quin==`i'
 14.         replace quin = . if proba`i'==. & size_quin==`i'
 15.         drop a b pct*
 16.         }
(dropped 235745 singleton observations)
(converged in 37 iterations)
(converged in 63 iterations)

HDFE Linear regression                            Number of obs   =    493,925
Absorbing 2 HDFE groups                           F(   5, 208679) =    2715.95
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.6405
                                                  Adj R-squared   =     0.4258
                                                  Within R-sq.    =     0.0541
Number of clusters (ijk)     =    208,680         Root MSE        =     0.3272

                                (Std. Err. adjusted for 208,680 clusters in ijk)
--------------------------------------------------------------------------------
               |               Robust
       exit_f1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
---------------+----------------------------------------------------------------
    res_fe_qty |   -.122411   .0026222   -46.68   0.000    -.1275504   -.1172716
 age_ele1_diff |   .0016239   .0004423     3.67   0.000      .000757    .0024909
          diff |  -.0530629    .002367   -22.42   0.000    -.0577021   -.0484236
      age_ele1 |  -.0166207   .0004329   -38.40   0.000    -.0174691   -.0157723
age_ele1_prior |   .0048694   .0004754    10.24   0.000     .0039376    .0058011
--------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------------------+
   Absorbed FE |  Num. Coefs.  =   Categories  -   Redundant     | 
---------------+-------------------------------------------------|
           ikt |       145503          145503              0     | 
           jkt |        39128           44944           5816     | 
-----------------------------------------------------------------+
(3,645,506 missing values generated)

    Variable |        Obs        Mean    Std. Dev.       Min        Max
-------------+---------------------------------------------------------
      pct_20 |  4,139,431   -.0289777           0  -.0289777  -.0289777
      pct_40 |  4,139,431    .0609654           0   .0609654   .0609654
      pct_60 |  4,139,431    .2210442           0   .2210442   .2210442
      pct_80 |  4,139,431    .5270263           0   .5270263   .5270263
(98,785 real changes made)
(729,101 real changes made)
(630,316 real changes made)
(531,531 real changes made)
(432,746 real changes made)
(333,961 real changes made, 333,961 to missing)
(dropped 330278 singleton observations)
(converged in 46 iterations)
(converged in 52 iterations)

HDFE Linear regression                            Number of obs   =    403,707
Absorbing 2 HDFE groups                           F(   5, 210777) =     786.10
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.7168
                                                  Adj R-squared   =     0.4641
                                                  Within R-sq.    =     0.0230
Number of clusters (ijk)     =    210,778         Root MSE        =     0.2888

                                (Std. Err. adjusted for 210,778 clusters in ijk)
--------------------------------------------------------------------------------
               |               Robust
       exit_f1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
---------------+----------------------------------------------------------------
    res_fe_qty |   -.123568    .003691   -33.48   0.000    -.1308023   -.1163337
 age_ele1_diff |   .0024437   .0005974     4.09   0.000     .0012728    .0036145
          diff |  -.0594741   .0033476   -17.77   0.000    -.0660354   -.0529129
      age_ele1 |  -.0154851   .0004876   -31.76   0.000    -.0164409   -.0145294
age_ele1_prior |   .0061005   .0006297     9.69   0.000     .0048663    .0073347
--------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------------------+
   Absorbed FE |  Num. Coefs.  =   Categories  -   Redundant     | 
---------------+-------------------------------------------------|
           ikt |       128846          128846              0     | 
           jkt |        61519           69770           8251     | 
-----------------------------------------------------------------+
(3,735,724 missing values generated)

    Variable |        Obs        Mean    Std. Dev.       Min        Max
-------------+---------------------------------------------------------
      pct_20 |  4,139,431   -.0397431           0  -.0397431  -.0397431
      pct_40 |  4,139,431    .0181129           0   .0181129   .0181129
      pct_60 |  4,139,431    .1207407           0   .1207407   .1207407
      pct_80 |  4,139,431    .4248831           0   .4248831   .4248831
(80,741 real changes made)
(747,145 real changes made)
(666,403 real changes made)
(585,661 real changes made)
(504,920 real changes made)
(424,179 real changes made, 424,179 to missing)
(dropped 364067 singleton observations)
(converged in 51 iterations)
(converged in 63 iterations)

HDFE Linear regression                            Number of obs   =    372,330
Absorbing 2 HDFE groups                           F(   5, 196350) =     488.90
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.7546
                                                  Adj R-squared   =     0.4881
                                                  Within R-sq.    =     0.0182
Number of clusters (ijk)     =    196,351         Root MSE        =     0.2592

                                (Std. Err. adjusted for 196,351 clusters in ijk)
--------------------------------------------------------------------------------
               |               Robust
       exit_f1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
---------------+----------------------------------------------------------------
    res_fe_qty |  -.1188483   .0040417   -29.41   0.000      -.12677   -.1109267
 age_ele1_diff |   .0042287   .0006405     6.60   0.000     .0029733     .005484
          diff |  -.0620969   .0037027   -16.77   0.000    -.0693541   -.0548397
      age_ele1 |  -.0147131   .0005183   -28.39   0.000     -.015729   -.0136972
age_ele1_prior |   .0080897   .0006659    12.15   0.000     .0067845    .0093948
--------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------------------+
   Absorbed FE |  Num. Coefs.  =   Categories  -   Redundant     | 
---------------+-------------------------------------------------|
           ikt |       114275          114275              0     | 
           jkt |        79581           89427           9846     | 
-----------------------------------------------------------------+
(3,767,101 missing values generated)

    Variable |        Obs        Mean    Std. Dev.       Min        Max
-------------+---------------------------------------------------------
      pct_20 |  4,139,431    -.039786           0   -.039786   -.039786
      pct_40 |  4,139,431    .0053468           0   .0053468   .0053468
      pct_60 |  4,139,431    .0700798           0   .0700798   .0700798
      pct_80 |  4,139,431    .2976574           0   .2976574   .2976574
(74,466 real changes made)
(753,420 real changes made)
(678,955 real changes made)
(604,488 real changes made)
(530,022 real changes made)
(455,556 real changes made, 455,556 to missing)
(dropped 384308 singleton observations)
(converged in 57 iterations)
(converged in 61 iterations)

HDFE Linear regression                            Number of obs   =    353,601
Absorbing 2 HDFE groups                           F(   5, 172496) =     382.16
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.7774
                                                  Adj R-squared   =     0.4917
                                                  Within R-sq.    =     0.0171
Number of clusters (ijk)     =    172,497         Root MSE        =     0.2375

                                (Std. Err. adjusted for 172,497 clusters in ijk)
--------------------------------------------------------------------------------
               |               Robust
       exit_f1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
---------------+----------------------------------------------------------------
    res_fe_qty |  -.1091674   .0040929   -26.67   0.000    -.1171895   -.1011453
 age_ele1_diff |   .0047245   .0006382     7.40   0.000     .0034736    .0059753
          diff |  -.0636346   .0037999   -16.75   0.000    -.0710824   -.0561869
      age_ele1 |  -.0145817   .0005661   -25.76   0.000    -.0156912   -.0134722
age_ele1_prior |   .0080695   .0006626    12.18   0.000     .0067708    .0093683
--------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------------------+
   Absorbed FE |  Num. Coefs.  =   Categories  -   Redundant     | 
---------------+-------------------------------------------------|
           ikt |        97927           97927              0     | 
           jkt |       100805          113054          12249     | 
-----------------------------------------------------------------+
(3,785,830 missing values generated)

    Variable |        Obs        Mean    Std. Dev.       Min        Max
-------------+---------------------------------------------------------
      pct_20 |  4,139,431   -.0345589           0  -.0345589  -.0345589
      pct_40 |  4,139,431    .0002389           0   .0002389   .0002389
      pct_60 |  4,139,431    .0390148           0   .0390148   .0390148
      pct_80 |  4,139,431    .2194122           0   .2194122   .2194122
(70,720 real changes made)
(757,166 real changes made)
(686,445 real changes made)
(615,725 real changes made)
(545,004 real changes made)
(474,285 real changes made, 474,285 to missing)
(dropped 487440 singleton observations)
(converged in 49 iterations)
(converged in 52 iterations)

HDFE Linear regression                            Number of obs   =    250,632
Absorbing 2 HDFE groups                           F(   5, 114137) =     245.49
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.7980
                                                  Adj R-squared   =     0.4506
                                                  Within R-sq.    =     0.0178
Number of clusters (ijk)     =    114,138         Root MSE        =     0.2312

                                (Std. Err. adjusted for 114,138 clusters in ijk)
--------------------------------------------------------------------------------
               |               Robust
       exit_f1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
---------------+----------------------------------------------------------------
    res_fe_qty |  -.1017332   .0052191   -19.49   0.000    -.1119626   -.0915039
 age_ele1_diff |   .0041368   .0008131     5.09   0.000     .0025432    .0057304
          diff |  -.0574939   .0049183   -11.69   0.000    -.0671336   -.0478542
      age_ele1 |  -.0135712   .0007161   -18.95   0.000    -.0149747   -.0121677
age_ele1_prior |    .006502   .0008364     7.77   0.000     .0048626    .0081413
--------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------------------+
   Absorbed FE |  Num. Coefs.  =   Categories  -   Redundant     | 
---------------+-------------------------------------------------|
           ikt |        55328           55328              0     | 
           jkt |       103161          117631          14470     | 
-----------------------------------------------------------------+
(3,888,799 missing values generated)

    Variable |        Obs        Mean    Std. Dev.       Min        Max
-------------+---------------------------------------------------------
      pct_20 |  4,139,431   -.0246135           0  -.0246135  -.0246135
      pct_40 |  4,139,431   -.0008906           0  -.0008906  -.0008906
      pct_60 |  4,139,431    .0202372           0   .0202372   .0202372
      pct_80 |  4,139,431    .1588354           0   .1588354   .1588354
(50,126 real changes made)
(777,761 real changes made)
(727,634 real changes made)
(677,508 real changes made)
(627,381 real changes made)
(577,255 real changes made, 577,255 to missing)

.         
. keep if quin_pooled != .
(590,361 observations deleted)

. keep siren country prod year proba* quin quin_pooled

. sort siren country prod year

. save $Output\proba_exit, replace
(note: file data\output\proba_exit.dta not found)
file data\output\proba_exit.dta saved

. 
. foreach def in ele1 {
  2. use $Output\dataset_brv_fe, clear
  3. global condition  "entry_ele!=1994 & entry_ele!=1995"
  4. * merge proba exit
. merge 1:1 siren country prod year using $Output\proba_exit
  5. keep if _m==3
  6. drop _m
  7. 
. foreach var in diff {
  8. 
.         foreach proba in 5 4 3 2 1 {
  9.                 eststo: reg dprior `var' age_`def' `var'_`def' if $condition & quin_pooled <= `proba', r cluster(i)
 10.                 reg dprior `var'_`def'_* `def'_*           if $condition & quin_pooled <= `proba', r cluster(i) /*not reported*/
 11.                 
.                 }
 12.                 
.         set linesize 250
 13.         esttab, mtitles drop(_cons) b(%5.3f) se(%5.3f) compress r2 starlevels(c 0.1 b 0.05 a 0.01)  se 
 14.         esttab, mtitles drop(_cons) b(%5.3f) se(%5.3f) r2  starlevels({$^c$} 0.1 {$^b$} 0.05 {$^a$} 0.01) se tex label  title() 
 15.         eststo clear
 16. 
.         foreach proba in 5 4 3 2 1 {
 17.                 
.                 eststo: reg dprior `var' age_`def' `var'_`def' if $condition & quin <= `proba', r cluster(i)
 18.                 eststo: reg dprior `var'_`def'_* `def'_*           if $condition & quin <= `proba', r cluster(i)
 19.                 
.                 }
 20.         set linesize 250
 21.         esttab, mtitles drop(_cons) b(%5.3f) se(%5.3f) compress r2 starlevels(c 0.1 b 0.05 a 0.01)  se 
 22.         esttab, mtitles drop(_cons) b(%5.3f) se(%5.3f) r2  starlevels({$^c$} 0.1 {$^b$} 0.05 {$^a$} 0.01) se tex label  title() 
 23.         eststo clear
 24.         
.         }
 25. }

    Result                           # of obs.
    -----------------------------------------
    not matched                     3,526,307
        from master                 3,526,307  (_merge==1)
        from using                          0  (_merge==2)

    matched                         3,549,070  (_merge==3)
    -----------------------------------------
(3,526,307 observations deleted)

Linear regression                               Number of obs     =  1,501,766
                                                F(3, 40340)       =    2059.86
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0366
                                                Root MSE          =     1.1826

                                 (Std. Err. adjusted for 40,341 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0747509   .0015352    48.69   0.000     .0717418    .0777599
    age_ele1 |  -.0380826   .0007745   -49.17   0.000    -.0396005   -.0365647
   diff_ele1 |  -.0032994   .0003875    -8.51   0.000     -.004059   -.0025398
       _cons |   .1668354   .0028185    59.19   0.000     .1613111    .1723598
------------------------------------------------------------------------------
(est1 stored)
note: diff_ele1_1 omitted because of collinearity
note: diff_ele1_10 omitted because of collinearity
note: ele1_1 omitted because of collinearity
note: ele1_8 omitted because of collinearity
note: ele1_10 omitted because of collinearity

Linear regression                               Number of obs     =  1,501,766
                                                F(15, 40340)      =     538.01
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0382
                                                Root MSE          =     1.1816

                                 (Std. Err. adjusted for 40,341 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
 diff_ele1_1 |          0  (omitted)
 diff_ele1_2 |   .0688081   .0012102    56.86   0.000     .0664361    .0711801
 diff_ele1_3 |   .0636493   .0012849    49.54   0.000     .0611308    .0661678
 diff_ele1_4 |   .0590742    .001606    36.78   0.000     .0559264    .0622219
 diff_ele1_5 |   .0558136   .0024385    22.89   0.000     .0510341    .0605931
 diff_ele1_6 |   .0583221   .0022466    25.96   0.000     .0539187    .0627254
 diff_ele1_7 |   .0541326    .002659    20.36   0.000     .0489209    .0593444
 diff_ele1_8 |   .0503732   .0034829    14.46   0.000     .0435467    .0571998
 diff_ele1_9 |   .0534351   .0066168     8.08   0.000      .040466    .0664042
diff_ele1_10 |          0  (omitted)
      ele1_1 |          0  (omitted)
      ele1_2 |   .1846567   .0071698    25.75   0.000     .1706038    .1987096
      ele1_3 |   .0442795   .0070309     6.30   0.000     .0304987    .0580602
      ele1_4 |   .0249168   .0070342     3.54   0.000     .0111295     .038704
      ele1_5 |   .0086381   .0073992     1.17   0.243    -.0058644    .0231406
      ele1_6 |   .0074084   .0080047     0.93   0.355     -.008281    .0230978
      ele1_7 |   .0134588   .0088919     1.51   0.130    -.0039695     .030887
      ele1_8 |          0  (omitted)
      ele1_9 |   .0160243    .012718     1.26   0.208    -.0089034    .0409519
     ele1_10 |          0  (omitted)
       _cons |  -.0538108   .0068296    -7.88   0.000    -.0671969   -.0404246
------------------------------------------------------------------------------

Linear regression                               Number of obs     =  1,154,290
                                                F(3, 34593)       =    1926.60
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0377
                                                Root MSE          =     1.1551

                                 (Std. Err. adjusted for 34,594 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |     .07526   .0016907    44.51   0.000     .0719461    .0785739
    age_ele1 |  -.0470939   .0008322   -56.59   0.000    -.0487252   -.0454627
   diff_ele1 |  -.0033897   .0004224    -8.03   0.000    -.0042176   -.0025619
       _cons |   .2549081   .0034962    72.91   0.000     .2480555    .2617607
------------------------------------------------------------------------------
(est2 stored)
note: diff_ele1_1 omitted because of collinearity
note: diff_ele1_10 omitted because of collinearity
note: ele1_1 omitted because of collinearity
note: ele1_8 omitted because of collinearity
note: ele1_10 omitted because of collinearity

Linear regression                               Number of obs     =  1,154,290
                                                F(15, 34593)      =     525.37
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0401
                                                Root MSE          =     1.1537

                                 (Std. Err. adjusted for 34,594 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
 diff_ele1_1 |          0  (omitted)
 diff_ele1_2 |   .0695947   .0013854    50.23   0.000     .0668793    .0723102
 diff_ele1_3 |   .0632017   .0014632    43.19   0.000     .0603338    .0660697
 diff_ele1_4 |   .0583515   .0017721    32.93   0.000      .054878    .0618249
 diff_ele1_5 |   .0571893   .0025083    22.80   0.000      .052273    .0621056
 diff_ele1_6 |   .0564508   .0020201    27.94   0.000     .0524913    .0604104
 diff_ele1_7 |     .05406   .0029842    18.12   0.000     .0482109    .0599092
 diff_ele1_8 |   .0518135   .0039351    13.17   0.000     .0441006    .0595265
 diff_ele1_9 |   .0539354   .0072649     7.42   0.000     .0396959    .0681749
diff_ele1_10 |          0  (omitted)
      ele1_1 |          0  (omitted)
      ele1_2 |   .2416548   .0075391    32.05   0.000      .226878    .2564317
      ele1_3 |   .0735352   .0073674     9.98   0.000     .0590949    .0879754
      ele1_4 |   .0423045   .0073825     5.73   0.000     .0278344    .0567745
      ele1_5 |   .0199046   .0077426     2.57   0.010     .0047289    .0350803
      ele1_6 |   .0149824   .0081432     1.84   0.066    -.0009786    .0309433
      ele1_7 |   .0168395   .0093065     1.81   0.070    -.0014016    .0350805
      ele1_8 |          0  (omitted)
      ele1_9 |   .0144551   .0134242     1.08   0.282    -.0118567     .040767
     ele1_10 |          0  (omitted)
       _cons |  -.0287458   .0069863    -4.11   0.000    -.0424393   -.0150524
------------------------------------------------------------------------------

Linear regression                               Number of obs     =    839,245
                                                F(3, 30691)       =    1877.77
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0393
                                                Root MSE          =     1.0999

                                 (Std. Err. adjusted for 30,692 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0740218   .0020216    36.62   0.000     .0700595    .0779842
    age_ele1 |  -.0538876   .0009254   -58.23   0.000    -.0557013   -.0520739
   diff_ele1 |  -.0033435   .0005041    -6.63   0.000    -.0043316   -.0023553
       _cons |   .3305655    .004329    76.36   0.000     .3220805    .3390505
------------------------------------------------------------------------------
(est3 stored)
note: diff_ele1_1 omitted because of collinearity
note: diff_ele1_10 omitted because of collinearity
note: ele1_1 omitted because of collinearity
note: ele1_9 omitted because of collinearity
note: ele1_10 omitted because of collinearity

Linear regression                               Number of obs     =    839,245
                                                F(15, 30691)      =     519.54
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0425
                                                Root MSE          =     1.0981

                                 (Std. Err. adjusted for 30,692 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
 diff_ele1_1 |          0  (omitted)
 diff_ele1_2 |   .0689821   .0015412    44.76   0.000     .0659613    .0720028
 diff_ele1_3 |   .0611926   .0016834    36.35   0.000     .0578931    .0644921
 diff_ele1_4 |     .05749   .0019544    29.42   0.000     .0536594    .0613206
 diff_ele1_5 |   .0563884   .0025978    21.71   0.000     .0512966    .0614802
 diff_ele1_6 |   .0546841   .0021757    25.13   0.000     .0504196    .0589487
 diff_ele1_7 |   .0527732   .0033471    15.77   0.000     .0462128    .0593336
 diff_ele1_8 |   .0493031   .0041921    11.76   0.000     .0410865    .0575197
 diff_ele1_9 |   .0563425   .0083258     6.77   0.000     .0400235    .0726614
diff_ele1_10 |          0  (omitted)
      ele1_1 |          0  (omitted)
      ele1_2 |   .2661919   .0117184    22.72   0.000     .2432233    .2891605
      ele1_3 |   .0779057   .0117192     6.65   0.000     .0549356    .1008759
      ele1_4 |   .0356705   .0118537     3.01   0.003     .0124368    .0589042
      ele1_5 |   .0049021   .0118451     0.41   0.679    -.0183149     .028119
      ele1_6 |  -.0014296   .0121123    -0.12   0.906    -.0251703     .022311
      ele1_7 |  -.0050478   .0126608    -0.40   0.690    -.0298635    .0197679
      ele1_8 |  -.0261612   .0139261    -1.88   0.060    -.0534569    .0011345
      ele1_9 |          0  (omitted)
     ele1_10 |          0  (omitted)
       _cons |   .0192011   .0113445     1.69   0.091    -.0030345    .0414367
------------------------------------------------------------------------------

Linear regression                               Number of obs     =    531,182
                                                F(3, 27982)       =    1512.19
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0396
                                                Root MSE          =     1.0506

                                 (Std. Err. adjusted for 27,983 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0708574   .0022988    30.82   0.000     .0663515    .0753632
    age_ele1 |  -.0569077   .0011228   -50.69   0.000    -.0591084    -.054707
   diff_ele1 |   -.003127   .0005639    -5.55   0.000    -.0042322   -.0020218
       _cons |    .380976   .0055581    68.54   0.000     .3700818    .3918702
------------------------------------------------------------------------------
(est4 stored)
note: diff_ele1_1 omitted because of collinearity
note: diff_ele1_10 omitted because of collinearity
note: ele1_1 omitted because of collinearity
note: ele1_8 omitted because of collinearity
note: ele1_10 omitted because of collinearity

Linear regression                               Number of obs     =    531,182
                                                F(15, 27982)      =     410.75
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0437
                                                Root MSE          =     1.0484

                                 (Std. Err. adjusted for 27,983 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
 diff_ele1_1 |          0  (omitted)
 diff_ele1_2 |    .066451   .0017176    38.69   0.000     .0630845    .0698175
 diff_ele1_3 |   .0583485   .0020675    28.22   0.000     .0542961    .0624009
 diff_ele1_4 |   .0552207   .0020682    26.70   0.000      .051167    .0592745
 diff_ele1_5 |   .0553682   .0032922    16.82   0.000     .0489153    .0618212
 diff_ele1_6 |   .0531238   .0024882    21.35   0.000     .0482468    .0580008
 diff_ele1_7 |   .0511826   .0039198    13.06   0.000     .0434997    .0588655
 diff_ele1_8 |   .0444161     .00444    10.00   0.000     .0357135    .0531187
 diff_ele1_9 |   .0547038   .0093687     5.84   0.000     .0363406     .073067
diff_ele1_10 |          0  (omitted)
      ele1_1 |          0  (omitted)
      ele1_2 |   .3199184   .0091361    35.02   0.000     .3020112    .3378256
      ele1_3 |     .11333   .0088979    12.74   0.000     .0958897    .1307703
      ele1_4 |   .0727247   .0089683     8.11   0.000     .0551463    .0903031
      ele1_5 |   .0390049   .0094096     4.15   0.000     .0205616    .0574481
      ele1_6 |   .0238483     .00953     2.50   0.012      .005169    .0425275
      ele1_7 |    .026092   .0107866     2.42   0.016     .0049497    .0472344
      ele1_8 |          0  (omitted)
      ele1_9 |     .01426   .0157284     0.91   0.365    -.0165683    .0450884
     ele1_10 |          0  (omitted)
       _cons |   .0184628   .0080895     2.28   0.022      .002607    .0343186
------------------------------------------------------------------------------

Linear regression                               Number of obs     =    248,195
                                                F(3, 23369)       =    1124.91
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0437
                                                Root MSE          =     1.0449

                                 (Std. Err. adjusted for 23,370 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0703766   .0032151    21.89   0.000     .0640748    .0766784
    age_ele1 |  -.0694083   .0015302   -45.36   0.000    -.0724077   -.0664089
   diff_ele1 |   -.003241   .0007529    -4.30   0.000    -.0047168   -.0017652
       _cons |   .5136757   .0075736    67.82   0.000     .4988309    .5285205
------------------------------------------------------------------------------
(est5 stored)
note: diff_ele1_1 omitted because of collinearity
note: diff_ele1_10 omitted because of collinearity
note: ele1_1 omitted because of collinearity
note: ele1_8 omitted because of collinearity
note: ele1_10 omitted because of collinearity

Linear regression                               Number of obs     =    248,195
                                                F(15, 23369)      =     287.02
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0497
                                                Root MSE          =     1.0417

                                 (Std. Err. adjusted for 23,370 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
 diff_ele1_1 |          0  (omitted)
 diff_ele1_2 |   .0656553   .0025051    26.21   0.000     .0607452    .0705654
 diff_ele1_3 |   .0581566   .0025003    23.26   0.000     .0532558    .0630573
 diff_ele1_4 |   .0533006   .0026888    19.82   0.000     .0480304    .0585709
 diff_ele1_5 |   .0535513   .0045178    11.85   0.000     .0446962    .0624064
 diff_ele1_6 |   .0522177   .0033607    15.54   0.000     .0456305    .0588049
 diff_ele1_7 |   .0508051   .0057695     8.81   0.000     .0394966    .0621136
 diff_ele1_8 |   .0440742   .0058871     7.49   0.000     .0325351    .0556133
 diff_ele1_9 |   .0500879    .010895     4.60   0.000      .028733    .0714429
diff_ele1_10 |          0  (omitted)
      ele1_1 |          0  (omitted)
      ele1_2 |   .4138741   .0123558    33.50   0.000      .389656    .4380922
      ele1_3 |   .1605573   .0118427    13.56   0.000     .1373449    .1837698
      ele1_4 |   .1088591   .0121269     8.98   0.000     .0850895    .1326287
      ele1_5 |   .0630289   .0130753     4.82   0.000     .0374005    .0886574
      ele1_6 |   .0420778   .0127928     3.29   0.001     .0170031    .0671526
      ele1_7 |   .0439652   .0140282     3.13   0.002     .0164691    .0714613
      ele1_8 |          0  (omitted)
      ele1_9 |   .0129083   .0200129     0.64   0.519    -.0263183    .0521349
     ele1_10 |          0  (omitted)
       _cons |   .0528296    .010587     4.99   0.000     .0320785    .0735807
------------------------------------------------------------------------------

-----------------------------------------------------------------
                 (1)        (2)        (3)        (4)        (5) 
                est1       est2       est3       est4       est5 
-----------------------------------------------------------------
diff           0.075a     0.075a     0.074a     0.071a     0.070a
             (0.002)    (0.002)    (0.002)    (0.002)    (0.003) 

age_ele1      -0.038a    -0.047a    -0.054a    -0.057a    -0.069a
             (0.001)    (0.001)    (0.001)    (0.001)    (0.002) 

diff_ele1     -0.003a    -0.003a    -0.003a    -0.003a    -0.003a
             (0.000)    (0.000)    (0.001)    (0.001)    (0.001) 
-----------------------------------------------------------------
N            1501766    1154290     839245     531182     248195 
R-sq           0.037      0.038      0.039      0.040      0.044 
-----------------------------------------------------------------
Standard errors in parentheses
c p<0.1, b p<0.05, a p<0.01

{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{5}{c}}
\hline\hline
                    &\multicolumn{1}{c}{(1)}&\multicolumn{1}{c}{(2)}&\multicolumn{1}{c}{(3)}&\multicolumn{1}{c}{(4)}&\multicolumn{1}{c}{(5)}\\
                    &\multicolumn{1}{c}{est1}&\multicolumn{1}{c}{est2}&\multicolumn{1}{c}{est3}&\multicolumn{1}{c}{est4}&\multicolumn{1}{c}{est5}\\
\hline
$\widehat{a}\_{ijkt}-\varepsilon^q\_{ijk,t-1}$&       0.075{$^a$}&       0.075{$^a$}&       0.074{$^a$}&       0.071{$^a$}&       0.070{$^a$}\\
                    &     (0.002)      &     (0.002)      &     (0.002)      &     (0.002)      &     (0.003)      \\
[1em]
Age$ \_{ijkt}$       &      -0.038{$^a$}&      -0.047{$^a$}&      -0.054{$^a$}&      -0.057{$^a$}&      -0.069{$^a$}\\
                    &     (0.001)      &     (0.001)      &     (0.001)      &     (0.001)      &     (0.002)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}$&      -0.003{$^a$}&      -0.003{$^a$}&      -0.003{$^a$}&      -0.003{$^a$}&      -0.003{$^a$}\\
                    &     (0.000)      &     (0.000)      &     (0.001)      &     (0.001)      &     (0.001)      \\
\hline
Observations        &     1501766      &     1154290      &      839245      &      531182      &      248195      \\
\(R^{2}\)           &       0.037      &       0.038      &       0.039      &       0.040      &       0.044      \\
\hline\hline
\multicolumn{6}{l}{\footnotesize Standard errors in parentheses}\\
\multicolumn{6}{l}{\footnotesize {$^c$} p<0.1, {$^b$} p<0.05, {$^a$} p<0.01}\\
\end{tabular}
}

Linear regression                               Number of obs     =    753,646
                                                F(3, 29909)       =    1376.29
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0473
                                                Root MSE          =     1.1126

                                 (Std. Err. adjusted for 29,910 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0895722   .0023429    38.23   0.000       .08498    .0941644
    age_ele1 |  -.0408919   .0009928   -41.19   0.000     -.042838   -.0389459
   diff_ele1 |  -.0043044   .0005281    -8.15   0.000    -.0053394   -.0032694
       _cons |   .1905018   .0038883    48.99   0.000     .1828805    .1981231
------------------------------------------------------------------------------
(est1 stored)
note: diff_ele1_1 omitted because of collinearity
note: diff_ele1_10 omitted because of collinearity
note: ele1_1 omitted because of collinearity
note: ele1_9 omitted because of collinearity
note: ele1_10 omitted because of collinearity

Linear regression                               Number of obs     =    753,646
                                                F(15, 29909)      =     381.50
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0495
                                                Root MSE          =     1.1113

                                 (Std. Err. adjusted for 29,910 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
 diff_ele1_1 |          0  (omitted)
 diff_ele1_2 |    .081916   .0018603    44.03   0.000     .0782696    .0855623
 diff_ele1_3 |   .0755706    .001825    41.41   0.000     .0719935    .0791477
 diff_ele1_4 |   .0680899   .0025242    26.97   0.000     .0631424    .0730375
 diff_ele1_5 |   .0667838   .0029504    22.64   0.000      .061001    .0725666
 diff_ele1_6 |   .0638551   .0028635    22.30   0.000     .0582425    .0694676
 diff_ele1_7 |   .0662832   .0035718    18.56   0.000     .0592822    .0732841
 diff_ele1_8 |   .0559527   .0050606    11.06   0.000     .0460338    .0658717
 diff_ele1_9 |   .0583651   .0098767     5.91   0.000     .0390063    .0777239
diff_ele1_10 |          0  (omitted)
      ele1_1 |          0  (omitted)
      ele1_2 |   .1902267   .0128764    14.77   0.000     .1649884     .215465
      ele1_3 |   .0356679   .0128504     2.78   0.006     .0104806    .0608551
      ele1_4 |   .0120801   .0130556     0.93   0.355    -.0135093    .0376696
      ele1_5 |  -.0082976   .0131083    -0.63   0.527    -.0339904    .0173951
      ele1_6 |  -.0091052    .013416    -0.68   0.497    -.0354011    .0171908
      ele1_7 |  -.0040189   .0139737    -0.29   0.774     -.031408    .0233702
      ele1_8 |  -.0218225   .0150714    -1.45   0.148    -.0513631    .0077181
      ele1_9 |          0  (omitted)
     ele1_10 |          0  (omitted)
       _cons |  -.0330245   .0126565    -2.61   0.009    -.0578317   -.0082173
------------------------------------------------------------------------------
(est2 stored)

Linear regression                               Number of obs     =    552,923
                                                F(3, 25195)       =    1309.67
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0486
                                                Root MSE          =     1.0735

                                 (Std. Err. adjusted for 25,196 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0926272   .0025669    36.09   0.000      .087596    .0976584
    age_ele1 |  -.0467358   .0010855   -43.06   0.000    -.0488634   -.0446082
   diff_ele1 |  -.0049314   .0005674    -8.69   0.000    -.0060435   -.0038193
       _cons |   .2594279   .0046899    55.32   0.000     .2502354    .2686204
------------------------------------------------------------------------------
(est3 stored)
note: diff_ele1_1 omitted because of collinearity
note: diff_ele1_10 omitted because of collinearity
note: ele1_1 omitted because of collinearity
note: ele1_9 omitted because of collinearity
note: ele1_10 omitted because of collinearity

Linear regression                               Number of obs     =    552,923
                                                F(15, 25195)      =     369.16
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0515
                                                Root MSE          =     1.0719

                                 (Std. Err. adjusted for 25,196 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
 diff_ele1_1 |          0  (omitted)
 diff_ele1_2 |   .0847063   .0022086    38.35   0.000     .0803774    .0890353
 diff_ele1_3 |   .0752826   .0020977    35.89   0.000      .071171    .0793942
 diff_ele1_4 |   .0679745   .0028106    24.19   0.000     .0624656    .0734835
 diff_ele1_5 |   .0671724   .0032884    20.43   0.000      .060727    .0736178
 diff_ele1_6 |    .061665    .002905    21.23   0.000     .0559711    .0673588
 diff_ele1_7 |   .0667346   .0039682    16.82   0.000     .0589567    .0745126
 diff_ele1_8 |   .0536097   .0054516     9.83   0.000     .0429243    .0642951
 diff_ele1_9 |    .058247   .0108589     5.36   0.000     .0369629    .0795311
diff_ele1_10 |          0  (omitted)
      ele1_1 |          0  (omitted)
      ele1_2 |   .2324134   .0134094    17.33   0.000     .2061301    .2586967
      ele1_3 |   .0592911   .0134128     4.42   0.000     .0330013     .085581
      ele1_4 |   .0235871   .0136495     1.73   0.084    -.0031667    .0503408
      ele1_5 |    .002767    .013554     0.20   0.838    -.0237996    .0293336
      ele1_6 |  -.0023188   .0137233    -0.17   0.866    -.0292173    .0245797
      ele1_7 |  -.0021994   .0146071    -0.15   0.880    -.0308302    .0264315
      ele1_8 |  -.0288432   .0157868    -1.83   0.068    -.0597862    .0020998
      ele1_9 |          0  (omitted)
     ele1_10 |          0  (omitted)
       _cons |  -.0073078   .0130211    -0.56   0.575    -.0328299    .0182144
------------------------------------------------------------------------------
(est4 stored)

Linear regression                               Number of obs     =    392,224
                                                F(3, 22327)       =    1210.71
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0492
                                                Root MSE          =      1.038

                                 (Std. Err. adjusted for 22,328 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0918602   .0028086    32.71   0.000     .0863552    .0973653
    age_ele1 |  -.0491903   .0012095   -40.67   0.000     -.051561   -.0468195
   diff_ele1 |  -.0049449   .0006118    -8.08   0.000    -.0061442   -.0037457
       _cons |   .2946575   .0053582    54.99   0.000     .2841552    .3051599
------------------------------------------------------------------------------
(est5 stored)
note: diff_ele1_1 omitted because of collinearity
note: diff_ele1_10 omitted because of collinearity
note: ele1_1 omitted because of collinearity
note: ele1_9 omitted because of collinearity
note: ele1_10 omitted because of collinearity

Linear regression                               Number of obs     =    392,224
                                                F(15, 22327)      =     335.49
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0526
                                                Root MSE          =     1.0362

                                 (Std. Err. adjusted for 22,328 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
 diff_ele1_1 |          0  (omitted)
 diff_ele1_2 |   .0841688   .0025396    33.14   0.000     .0791909    .0891466
 diff_ele1_3 |   .0748624   .0022787    32.85   0.000     .0703959    .0793288
 diff_ele1_4 |   .0665924   .0026498    25.13   0.000     .0613986    .0717862
 diff_ele1_5 |   .0658919   .0038491    17.12   0.000     .0583474    .0734365
 diff_ele1_6 |   .0598621   .0032647    18.34   0.000     .0534631     .066261
 diff_ele1_7 |   .0651716    .004372    14.91   0.000     .0566023     .073741
 diff_ele1_8 |    .049915   .0061393     8.13   0.000     .0378815    .0619484
 diff_ele1_9 |     .06918   .0096814     7.15   0.000     .0502038    .0881563
diff_ele1_10 |          0  (omitted)
      ele1_1 |          0  (omitted)
      ele1_2 |   .2394461   .0152517    15.70   0.000     .2095518    .2693405
      ele1_3 |   .0606287   .0153171     3.96   0.000     .0306061    .0906513
      ele1_4 |   .0194915   .0154136     1.26   0.206    -.0107203    .0497032
      ele1_5 |  -.0093832   .0154123    -0.61   0.543    -.0395923     .020826
      ele1_6 |   -.018437   .0155047    -1.19   0.234    -.0488273    .0119534
      ele1_7 |  -.0139042   .0163178    -0.85   0.394    -.0458881    .0180798
      ele1_8 |  -.0345758   .0179338    -1.93   0.054    -.0697273    .0005757
      ele1_9 |          0  (omitted)
     ele1_10 |          0  (omitted)
       _cons |   .0207161   .0147653     1.40   0.161    -.0082249    .0496572
------------------------------------------------------------------------------
(est6 stored)

Linear regression                               Number of obs     =    248,979
                                                F(3, 20277)       =    1095.70
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0509
                                                Root MSE          =      1.019

                                 (Std. Err. adjusted for 20,278 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0931718   .0034484    27.02   0.000     .0864126    .0999309
    age_ele1 |   -.052793   .0013574   -38.89   0.000    -.0554536   -.0501324
   diff_ele1 |  -.0053196   .0007789    -6.83   0.000    -.0068462    -.003793
       _cons |   .3316029   .0062275    53.25   0.000     .3193964    .3438093
------------------------------------------------------------------------------
(est7 stored)
note: diff_ele1_1 omitted because of collinearity
note: diff_ele1_10 omitted because of collinearity
note: ele1_1 omitted because of collinearity
note: ele1_9 omitted because of collinearity
note: ele1_10 omitted because of collinearity

Linear regression                               Number of obs     =    248,979
                                                F(15, 20277)      =     281.87
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0551
                                                Root MSE          =     1.0167

                                 (Std. Err. adjusted for 20,278 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
 diff_ele1_1 |          0  (omitted)
 diff_ele1_2 |   .0850419   .0027158    31.31   0.000     .0797187     .090365
 diff_ele1_3 |   .0742894   .0027652    26.87   0.000     .0688694    .0797095
 diff_ele1_4 |   .0672877   .0033053    20.36   0.000      .060809    .0737664
 diff_ele1_5 |   .0639816   .0042106    15.20   0.000     .0557285    .0722347
 diff_ele1_6 |   .0637252   .0038444    16.58   0.000     .0561898    .0712606
 diff_ele1_7 |   .0643271   .0052329    12.29   0.000     .0540701    .0745841
 diff_ele1_8 |   .0419089    .006585     6.36   0.000     .0290017    .0548161
 diff_ele1_9 |   .0680203   .0123593     5.50   0.000     .0437952    .0922454
diff_ele1_10 |          0  (omitted)
      ele1_1 |          0  (omitted)
      ele1_2 |    .254792   .0173991    14.64   0.000     .2206885    .2888956
      ele1_3 |   .0617249   .0174132     3.54   0.000     .0275936    .0958561
      ele1_4 |   .0153753   .0175247     0.88   0.380    -.0189746    .0497252
      ele1_5 |  -.0186391    .017422    -1.07   0.285    -.0527877    .0155094
      ele1_6 |  -.0303175   .0178489    -1.70   0.089    -.0653028    .0046678
      ele1_7 |   -.020302    .018704    -1.09   0.278    -.0569633    .0163594
      ele1_8 |  -.0584148    .019709    -2.96   0.003    -.0970461   -.0197835
      ele1_9 |          0  (omitted)
     ele1_10 |          0  (omitted)
       _cons |   .0432915   .0166423     2.60   0.009     .0106712    .0759118
------------------------------------------------------------------------------
(est8 stored)

Linear regression                               Number of obs     =    120,723
                                                F(3, 15900)       =     786.93
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0540
                                                Root MSE          =     1.0265

                                 (Std. Err. adjusted for 15,901 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0905453   .0044437    20.38   0.000     .0818353    .0992554
    age_ele1 |  -.0596314   .0018082   -32.98   0.000    -.0631756   -.0560872
   diff_ele1 |  -.0045699   .0010291    -4.44   0.000    -.0065871   -.0025526
       _cons |    .395264   .0081404    48.56   0.000     .3793078    .4112202
------------------------------------------------------------------------------
(est9 stored)
note: diff_ele1_1 omitted because of collinearity
note: diff_ele1_10 omitted because of collinearity
note: ele1_1 omitted because of collinearity
note: ele1_8 omitted because of collinearity
note: ele1_10 omitted because of collinearity

Linear regression                               Number of obs     =    120,723
                                                F(15, 15900)      =     192.18
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0590
                                                Root MSE          =     1.0239

                                 (Std. Err. adjusted for 15,901 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
 diff_ele1_1 |          0  (omitted)
 diff_ele1_2 |   .0845463   .0033354    25.35   0.000     .0780085     .091084
 diff_ele1_3 |   .0736364   .0034014    21.65   0.000     .0669692    .0803036
 diff_ele1_4 |   .0659992   .0044625    14.79   0.000     .0572522    .0747463
 diff_ele1_5 |   .0646994   .0051655    12.53   0.000     .0545743    .0748244
 diff_ele1_6 |   .0700608   .0055368    12.65   0.000     .0592081    .0809136
 diff_ele1_7 |   .0674098   .0061311    10.99   0.000     .0553922    .0794275
 diff_ele1_8 |   .0420579   .0088619     4.75   0.000     .0246875    .0594282
 diff_ele1_9 |   .0772651   .0179373     4.31   0.000      .042106    .1124242
diff_ele1_10 |          0  (omitted)
      ele1_1 |          0  (omitted)
      ele1_2 |   .3621941   .0157748    22.96   0.000     .3312738    .3931145
      ele1_3 |   .1475466   .0158001     9.34   0.000     .1165766    .1785166
      ele1_4 |   .0943261   .0158552     5.95   0.000     .0632481     .125404
      ele1_5 |   .0579266   .0161262     3.59   0.000     .0263174    .0895357
      ele1_6 |   .0305621   .0169564     1.80   0.072    -.0026744    .0637987
      ele1_7 |   .0477815   .0189489     2.52   0.012     .0106396    .0849235
      ele1_8 |          0  (omitted)
      ele1_9 |   .0486782   .0257052     1.89   0.058    -.0017069    .0990633
     ele1_10 |          0  (omitted)
       _cons |  -.0042639   .0140278    -0.30   0.761      -.03176    .0232321
------------------------------------------------------------------------------
(est10 stored)

------------------------------------------------------------------------------------------------------------------------
                 (1)        (2)        (3)        (4)        (5)        (6)        (7)        (8)        (9)       (10) 
                est1       est2       est3       est4       est5       est6       est7       est8       est9      est10 
------------------------------------------------------------------------------------------------------------------------
diff           0.090a                0.093a                0.092a                0.093a                0.091a           
             (0.002)               (0.003)               (0.003)               (0.003)               (0.004)            

age_ele1      -0.041a               -0.047a               -0.049a               -0.053a               -0.060a           
             (0.001)               (0.001)               (0.001)               (0.001)               (0.002)            

diff_ele1     -0.004a               -0.005a               -0.005a               -0.005a               -0.005a           
             (0.001)               (0.001)               (0.001)               (0.001)               (0.001)            

diff_el~_1                0.000                 0.000                 0.000                 0.000                 0.000 
                            (.)                   (.)                   (.)                   (.)                   (.) 

diff_ele~2                0.082a                0.085a                0.084a                0.085a                0.085a
                        (0.002)               (0.002)               (0.003)               (0.003)               (0.003) 

diff_ele~3                0.076a                0.075a                0.075a                0.074a                0.074a
                        (0.002)               (0.002)               (0.002)               (0.003)               (0.003) 

diff_ele~4                0.068a                0.068a                0.067a                0.067a                0.066a
                        (0.003)               (0.003)               (0.003)               (0.003)               (0.004) 

diff_ele~5                0.067a                0.067a                0.066a                0.064a                0.065a
                        (0.003)               (0.003)               (0.004)               (0.004)               (0.005) 

diff_ele~6                0.064a                0.062a                0.060a                0.064a                0.070a
                        (0.003)               (0.003)               (0.003)               (0.004)               (0.006) 

diff_ele~7                0.066a                0.067a                0.065a                0.064a                0.067a
                        (0.004)               (0.004)               (0.004)               (0.005)               (0.006) 

diff_ele~8                0.056a                0.054a                0.050a                0.042a                0.042a
                        (0.005)               (0.005)               (0.006)               (0.007)               (0.009) 

diff_ele~9                0.058a                0.058a                0.069a                0.068a                0.077a
                        (0.010)               (0.011)               (0.010)               (0.012)               (0.018) 

diff_el~10                0.000                 0.000                 0.000                 0.000                 0.000 
                            (.)                   (.)                   (.)                   (.)                   (.) 

ele1_1                    0.000                 0.000                 0.000                 0.000                 0.000 
                            (.)                   (.)                   (.)                   (.)                   (.) 

ele1_2                    0.190a                0.232a                0.239a                0.255a                0.362a
                        (0.013)               (0.013)               (0.015)               (0.017)               (0.016) 

ele1_3                    0.036a                0.059a                0.061a                0.062a                0.148a
                        (0.013)               (0.013)               (0.015)               (0.017)               (0.016) 

ele1_4                    0.012                 0.024c                0.019                 0.015                 0.094a
                        (0.013)               (0.014)               (0.015)               (0.018)               (0.016) 

ele1_5                   -0.008                 0.003                -0.009                -0.019                 0.058a
                        (0.013)               (0.014)               (0.015)               (0.017)               (0.016) 

ele1_6                   -0.009                -0.002                -0.018                -0.030c                0.031c
                        (0.013)               (0.014)               (0.016)               (0.018)               (0.017) 

ele1_7                   -0.004                -0.002                -0.014                -0.020                 0.048b
                        (0.014)               (0.015)               (0.016)               (0.019)               (0.019) 

ele1_8                   -0.022                -0.029c               -0.035c               -0.058a                0.000 
                        (0.015)               (0.016)               (0.018)               (0.020)                   (.) 

ele1_9                    0.000                 0.000                 0.000                 0.000                 0.049c
                            (.)                   (.)                   (.)                   (.)               (0.026) 

ele1_10                   0.000                 0.000                 0.000                 0.000                 0.000 
                            (.)                   (.)                   (.)                   (.)                   (.) 
------------------------------------------------------------------------------------------------------------------------
N             753646     753646     552923     552923     392224     392224     248979     248979     120723     120723 
R-sq           0.047      0.050      0.049      0.051      0.049      0.053      0.051      0.055      0.054      0.059 
------------------------------------------------------------------------------------------------------------------------
Standard errors in parentheses
c p<0.1, b p<0.05, a p<0.01

{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{10}{c}}
\hline\hline
                    &\multicolumn{1}{c}{(1)}&\multicolumn{1}{c}{(2)}&\multicolumn{1}{c}{(3)}&\multicolumn{1}{c}{(4)}&\multicolumn{1}{c}{(5)}&\multicolumn{1}{c}{(6)}&\multicolumn{1}{c}{(7)}&\multicolumn{1}{c}{(8)}&\multicolumn{1}{c}{(9)}&\multicolumn{
> 1}{c}{(10)}\\
                    &\multicolumn{1}{c}{est1}&\multicolumn{1}{c}{est2}&\multicolumn{1}{c}{est3}&\multicolumn{1}{c}{est4}&\multicolumn{1}{c}{est5}&\multicolumn{1}{c}{est6}&\multicolumn{1}{c}{est7}&\multicolumn{1}{c}{est8}&\multicolumn{1}{c}{est9}&\mul
> ticolumn{1}{c}{est10}\\
\hline
$\widehat{a}\_{ijkt}-\varepsilon^q\_{ijk,t-1}$&       0.090{$^a$}&                  &       0.093{$^a$}&                  &       0.092{$^a$}&                  &       0.093{$^a$}&                  &       0.091{$^a$}&                  \\
                    &     (0.002)      &                  &     (0.003)      &                  &     (0.003)      &                  &     (0.003)      &                  &     (0.004)      &                  \\
[1em]
Age$ \_{ijkt}$       &      -0.041{$^a$}&                  &      -0.047{$^a$}&                  &      -0.049{$^a$}&                  &      -0.053{$^a$}&                  &      -0.060{$^a$}&                  \\
                    &     (0.001)      &                  &     (0.001)      &                  &     (0.001)      &                  &     (0.001)      &                  &     (0.002)      &                  \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}$&      -0.004{$^a$}&                  &      -0.005{$^a$}&                  &      -0.005{$^a$}&                  &      -0.005{$^a$}&                  &      -0.005{$^a$}&                  \\
                    &     (0.001)      &                  &     (0.001)      &                  &     (0.001)      &                  &     (0.001)      &                  &     (0.001)      &                  \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=1$&                  &       0.000      &                  &       0.000      &                  &       0.000      &                  &       0.000      &                  &       0.000      \\
                    &                  &         (.)      &                  &         (.)      &                  &         (.)      &                  &         (.)      &                  &         (.)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=2$&                  &       0.082{$^a$}&                  &       0.085{$^a$}&                  &       0.084{$^a$}&                  &       0.085{$^a$}&                  &       0.085{$^a$}\\
                    &                  &     (0.002)      &                  &     (0.002)      &                  &     (0.003)      &                  &     (0.003)      &                  &     (0.003)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=3$&                  &       0.076{$^a$}&                  &       0.075{$^a$}&                  &       0.075{$^a$}&                  &       0.074{$^a$}&                  &       0.074{$^a$}\\
                    &                  &     (0.002)      &                  &     (0.002)      &                  &     (0.002)      &                  &     (0.003)      &                  &     (0.003)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=4$&                  &       0.068{$^a$}&                  &       0.068{$^a$}&                  &       0.067{$^a$}&                  &       0.067{$^a$}&                  &       0.066{$^a$}\\
                    &                  &     (0.003)      &                  &     (0.003)      &                  &     (0.003)      &                  &     (0.003)      &                  &     (0.004)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=5$&                  &       0.067{$^a$}&                  &       0.067{$^a$}&                  &       0.066{$^a$}&                  &       0.064{$^a$}&                  &       0.065{$^a$}\\
                    &                  &     (0.003)      &                  &     (0.003)      &                  &     (0.004)      &                  &     (0.004)      &                  &     (0.005)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=6$&                  &       0.064{$^a$}&                  &       0.062{$^a$}&                  &       0.060{$^a$}&                  &       0.064{$^a$}&                  &       0.070{$^a$}\\
                    &                  &     (0.003)      &                  &     (0.003)      &                  &     (0.003)      &                  &     (0.004)      &                  &     (0.006)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=7$&                  &       0.066{$^a$}&                  &       0.067{$^a$}&                  &       0.065{$^a$}&                  &       0.064{$^a$}&                  &       0.067{$^a$}\\
                    &                  &     (0.004)      &                  &     (0.004)      &                  &     (0.004)      &                  &     (0.005)      &                  &     (0.006)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=8$&                  &       0.056{$^a$}&                  &       0.054{$^a$}&                  &       0.050{$^a$}&                  &       0.042{$^a$}&                  &       0.042{$^a$}\\
                    &                  &     (0.005)      &                  &     (0.005)      &                  &     (0.006)      &                  &     (0.007)      &                  &     (0.009)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=9$&                  &       0.058{$^a$}&                  &       0.058{$^a$}&                  &       0.069{$^a$}&                  &       0.068{$^a$}&                  &       0.077{$^a$}\\
                    &                  &     (0.010)      &                  &     (0.011)      &                  &     (0.010)      &                  &     (0.012)      &                  &     (0.018)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=10$&                  &       0.000      &                  &       0.000      &                  &       0.000      &                  &       0.000      &                  &       0.000      \\
                    &                  &         (.)      &                  &         (.)      &                  &         (.)      &                  &         (.)      &                  &         (.)      \\
[1em]
Age dummy, 1 years  &                  &       0.000      &                  &       0.000      &                  &       0.000      &                  &       0.000      &                  &       0.000      \\
                    &                  &         (.)      &                  &         (.)      &                  &         (.)      &                  &         (.)      &                  &         (.)      \\
[1em]
Age dummy, 2 years  &                  &       0.190{$^a$}&                  &       0.232{$^a$}&                  &       0.239{$^a$}&                  &       0.255{$^a$}&                  &       0.362{$^a$}\\
                    &                  &     (0.013)      &                  &     (0.013)      &                  &     (0.015)      &                  &     (0.017)      &                  &     (0.016)      \\
[1em]
Age dummy, 3 years  &                  &       0.036{$^a$}&                  &       0.059{$^a$}&                  &       0.061{$^a$}&                  &       0.062{$^a$}&                  &       0.148{$^a$}\\
                    &                  &     (0.013)      &                  &     (0.013)      &                  &     (0.015)      &                  &     (0.017)      &                  &     (0.016)      \\
[1em]
Age dummy, 4 years  &                  &       0.012      &                  &       0.024{$^c$}&                  &       0.019      &                  &       0.015      &                  &       0.094{$^a$}\\
                    &                  &     (0.013)      &                  &     (0.014)      &                  &     (0.015)      &                  &     (0.018)      &                  &     (0.016)      \\
[1em]
Age dummy, 5 years  &                  &      -0.008      &                  &       0.003      &                  &      -0.009      &                  &      -0.019      &                  &       0.058{$^a$}\\
                    &                  &     (0.013)      &                  &     (0.014)      &                  &     (0.015)      &                  &     (0.017)      &                  &     (0.016)      \\
[1em]
Age dummy, 6 years  &                  &      -0.009      &                  &      -0.002      &                  &      -0.018      &                  &      -0.030{$^c$}&                  &       0.031{$^c$}\\
                    &                  &     (0.013)      &                  &     (0.014)      &                  &     (0.016)      &                  &     (0.018)      &                  &     (0.017)      \\
[1em]
Age dummy, 7 years  &                  &      -0.004      &                  &      -0.002      &                  &      -0.014      &                  &      -0.020      &                  &       0.048{$^b$}\\
                    &                  &     (0.014)      &                  &     (0.015)      &                  &     (0.016)      &                  &     (0.019)      &                  &     (0.019)      \\
[1em]
Age dummy, 8 years  &                  &      -0.022      &                  &      -0.029{$^c$}&                  &      -0.035{$^c$}&                  &      -0.058{$^a$}&                  &       0.000      \\
                    &                  &     (0.015)      &                  &     (0.016)      &                  &     (0.018)      &                  &     (0.020)      &                  &         (.)      \\
[1em]
Age dummy, 9 years  &                  &       0.000      &                  &       0.000      &                  &       0.000      &                  &       0.000      &                  &       0.049{$^c$}\\
                    &                  &         (.)      &                  &         (.)      &                  &         (.)      &                  &         (.)      &                  &     (0.026)      \\
[1em]
Age dummy, 10 years &                  &       0.000      &                  &       0.000      &                  &       0.000      &                  &       0.000      &                  &       0.000      \\
                    &                  &         (.)      &                  &         (.)      &                  &         (.)      &                  &         (.)      &                  &         (.)      \\
\hline
Observations        &      753646      &      753646      &      552923      &      552923      &      392224      &      392224      &      248979      &      248979      &      120723      &      120723      \\
\(R^{2}\)           &       0.047      &       0.050      &       0.049      &       0.051      &       0.049      &       0.053      &       0.051      &       0.055      &       0.054      &       0.059      \\
\hline\hline
\multicolumn{11}{l}{\footnotesize Standard errors in parentheses}\\
\multicolumn{11}{l}{\footnotesize {$^c$} p<0.1, {$^b$} p<0.05, {$^a$} p<0.01}\\
\end{tabular}
}

. 
. 
. /*----------------------------------------------------------------------------------------------------------------------------------------------------------------------*/
. /*----------------------------------------------------------------------------------------------------------------------------------------------------------------------*/
. /*----------------------------------------------------------------------------------------------------------------------------------------------------------------------*/
. 
. *****************************************************************************
. * Table A.14 Olsen (1980) linear estimator and semi parametric version  *
. *****************************************************************************
. 
. use "$Output\balanced_export_fe", replace

. tsset ijk year
       panel variable:  ijk (unbalanced)
        time variable:  year, 1996 to 2005, but with gaps
                delta:  1 unit

. 
. g age_ele1_diff         = diff*age_ele1

. g age_ele1_prior        = res_fe_qty*age_ele1

. 
. * pooled prob *
. reghdfe exit_f1 res_fe_qty age_ele1_diff diff age_ele1 age_ele1_prior, absorb(a=ikt b=jkt) vce(cluster ijk) 
(dropped 228099 singleton observations)
(converged in 53 iterations)
(converged in 80 iterations)

HDFE Linear regression                            Number of obs   =  4,885,284
Absorbing 2 HDFE groups                           F(   5,1278993) =   37854.10
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.5526
                                                  Adj R-squared   =     0.3703
                                                  Within R-sq.    =     0.0691
Number of clusters (ijk)     =  1,278,994         Root MSE        =     0.3409

                              (Std. Err. adjusted for 1,278,994 clusters in ijk)
--------------------------------------------------------------------------------
               |               Robust
       exit_f1 |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
---------------+----------------------------------------------------------------
    res_fe_qty |   -.096736   .0006433  -150.37   0.000    -.0979969   -.0954751
 age_ele1_diff |   .0012767   .0001361     9.38   0.000       .00101    .0015434
          diff |  -.0444681   .0006152   -72.28   0.000    -.0456739   -.0432623
      age_ele1 |  -.0223541   .0001207  -185.26   0.000    -.0225906   -.0221176
age_ele1_prior |   .0041933    .000138    30.39   0.000     .0039228    .0044638
--------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------------------+
   Absorbed FE |  Num. Coefs.  =   Categories  -   Redundant     | 
---------------+-------------------------------------------------|
           ikt |       858621          858621              0     | 
           jkt |       555901          580157          24256     | 
-----------------------------------------------------------------+

. predict proba, xbd
(781,887 missing values generated)

.         
. rename proba proba_pooled

. keep siren country prod year proba_pooled 

. sort siren country prod year

. save $Output\proba_exit_pooled, replace
file data\output\proba_exit_pooled.dta saved

. 
. foreach def in ele1 {
  2. use $Output\dataset_brv_fe, clear
  3. global condition  "entry_ele!=1994 & entry_ele!=1995"
  4. * merge proba exit
. merge 1:1 siren country prod year using $Output\proba_exit_pooled
  5. keep if _m==3
  6. drop _m
  7.         
. centile proba_pooled , c(1(1)99) 
  8. 
. local nc : word count `r(centiles)' 
  9. qui forval i = 1/`nc' { 
 10. local list "`list'`r(c_`i')'," 
 11. } 
 12. su proba_pooled, meanonly 
 13. 
. gen cproba_pooled = recode(proba_pooled,`list'`r(max)') 
 14. 
. tab cproba_pooled, gen(bin)
 15. 
. 
. foreach var in diff {
 16. 
.         * Olsen linear version (Olsen, 1980)
.         eststo: reg dprior `var' age_`def'                                         proba_pooled if $condition, r cluster(i)
 17.         eststo: reg dprior `var' age_`def' `var'_`def' proba_pooled if $condition, r cluster(i)
 18.         eststo: reg dprior `var' age_`def' `var'_`def' proba_pooled if $condition, vce(bootstrap) 
 19.         eststo: reg dprior `var'_`def'_* `def'_*           proba_pooled if $condition, r cluster(i)
 20. 
.         *semi parametric version (Coslett, 1991)                
.         eststo: reg dprior `var' age_`def'                                         bin* if $condition, r cluster(i)
 21.         eststo: reg dprior `var' age_`def' `var'_`def' bin* if $condition, r cluster(i)
 22.         eststo: reg dprior `var' age_`def' `var'_`def' bin* if $condition, vce(bootstrap) 
 23.         eststo: reg dprior `var'_`def'_* `def'_*           bin* if $condition, r cluster(i)
 24. 
.         set linesize 250
 25.         esttab, mtitles drop(_cons bin*) b(%5.3f) se(%5.3f) compress r2 starlevels(c 0.1 b 0.05 a 0.01)  se 
 26.         esttab, mtitles drop(_cons bin*) b(%5.3f) se(%5.3f) r2  starlevels({$^c$} 0.1 {$^b$} 0.05 {$^a$} 0.01) se tex label  title() 
 27.         eststo clear
 28.         
.         * polynomial expansion  (Newey, 1988) - degree 10
.         
.         forvalues x=1(1)10{
 29.                 g proba_pooled_e`x' = proba_pooled^`x'
 30.         }
 31.         
.         eststo: reg dprior `var' age_`def'                                         proba_pooled_e* if $condition, r cluster(i)
 32.         eststo: reg dprior `var' age_`def' `var'_`def' proba_pooled_e* if $condition, r cluster(i)
 33.         eststo: reg dprior `var' age_`def' `var'_`def' proba_pooled_e* if $condition, vce(bootstrap) 
 34.         eststo: reg dprior `var'_`def'_* `def'_*           proba_pooled_e* if $condition, r cluster(i)
 35.         
.         set linesize 250
 36.         esttab, mtitles drop(_cons proba*) b(%5.3f) se(%5.3f) compress r2 starlevels(c 0.1 b 0.05 a 0.01)  se 
 37.         esttab, mtitles drop(_cons proba*) b(%5.3f) se(%5.3f) r2  starlevels({$^c$} 0.1 {$^b$} 0.05 {$^a$} 0.01) se tex label  title() 
 38.         eststo clear
 39.         
.         }
 40. }

    Result                           # of obs.
    -----------------------------------------
    not matched                     1,408,206
        from master                 1,408,206  (_merge==1)
        from using                          0  (_merge==2)

    matched                         5,667,171  (_merge==3)
    -----------------------------------------
(1,408,206 observations deleted)

                                                       -- Binom. Interp. --
    Variable |       Obs  Percentile    Centile        [95% Conf. Interval]
-------------+-------------------------------------------------------------
proba_pooled | 4,885,284          1   -.2264187       -.2269045   -.2259495
             |                    2   -.1875813       -.1879275   -.1872411
             |                    3   -.1637914       -.1640751   -.1634688
             |                    4   -.1461441       -.1464362   -.1458735
             |                    5   -.1318351       -.1320895   -.1315782
             |                    6   -.1195627       -.1197847   -.1193268
             |                    7   -.1089659       -.1092049   -.1087389
             |                    8   -.0993888       -.0996019   -.0991647
             |                    9   -.0906177       -.0908305   -.0903846
             |                   10   -.0825175       -.0827304   -.0822995
             |                   11   -.0749211       -.0751323   -.0747212
             |                   12   -.0678416       -.0680468   -.0676363
             |                   13   -.0610117       -.0612189    -.060813
             |                   14   -.0545329       -.0547269   -.0543393
             |                   15   -.0483397       -.0485306   -.0481572
             |                   16   -.0423699       -.0425653    -.042177
             |                   17   -.0365923       -.0367795   -.0364034
             |                   18   -.0309689       -.0311572   -.0307806
             |                   19   -.0254139       -.0256145    -.025226
             |                   20   -.0199922       -.0201802    -.019806
             |                   21   -.0146656       -.0148535   -.0144783
             |                   22   -.0093761       -.0095727   -.0091799
             |                   23   -.0041637       -.0043471   -.0039693
             |                   24    .0009562        .0007614    .0011559
             |                   25    .0060731         .005869    .0062758
             |                   26    .0112398        .0110396    .0114329
             |                   27    .0163668        .0161659    .0165581
             |                   28    .0214916        .0212762    .0217024
             |                   29    .0266737        .0264653    .0268874
             |                   30    .0319078        .0316965     .032122
             |                   31    .0371698        .0369577    .0373874
             |                   32    .0424873        .0422636    .0427068
             |                   33    .0478866        .0476534    .0481143
             |                   34    .0533822        .0531478    .0536214
             |                   35    .0589448        .0587153     .059187
             |                   36    .0646189        .0643737    .0648589
             |                   37    .0703627        .0701177    .0706124
             |                   38    .0762756        .0760185    .0765353
             |                   39    .0823116        .0820442    .0825821
             |                   40    .0884534        .0881876    .0887211
             |                   41    .0947211        .0944466    .0949961
             |                   42    .1011289        .1008389    .1014128
             |                   43    .1076375         .107341    .1079231
             |                   44    .1143095        .1140018    .1146003
             |                   45    .1211594        .1208503    .1214607
             |                   46    .1281361        .1278248    .1284484
             |                   47    .1353009        .1349806    .1356273
             |                   48    .1426327        .1423048    .1429609
             |                   49    .1501103        .1497752    .1504458
             |                   50    .1577599        .1574213    .1581011
             |                   51    .1655835        .1652298    .1659241
             |                   52    .1735326        .1731738    .1738941
             |                   53    .1816972        .1813295    .1820651
             |                   54    .1899984        .1896247    .1903734
             |                   55    .1985705        .1982024    .1989582
             |                   56    .2073035        .2069248    .2076881
             |                   57    .2161084        .2157188    .2165008
             |                   58    .2252468        .2248437    .2256475
             |                   59    .2344325        .2340228    .2348336
             |                   60    .2439569         .243532    .2443598
             |                   61    .2536785        .2532516    .2541035
             |                   62    .2635317        .2630975    .2639677
             |                   63    .2736544        .2732312    .2740937
             |                   64    .2840356        .2836139    .2844877
             |                   65    .2947348        .2942726    .2951929
             |                   66    .3056358        .3051772     .306099
             |                   67    .3168033        .3163352    .3172669
             |                   68      .32827        .3277954    .3287582
             |                   69    .3400401        .3395514    .3405333
             |                   70    .3520588        .3515595    .3525545
             |                   71    .3644433        .3639337     .364947
             |                   72    .3771403        .3766209    .3776548
             |                   73    .3902359        .3897084    .3907677
             |                   74    .4037081        .4031781    .4042226
             |                   75     .417565        .4169913    .4180938
             |                   76    .4317683        .4312311    .4323241
             |                   77    .4464162        .4458355    .4469614
             |                   78    .4616223         .461049    .4622028
             |                   79    .4772684        .4766874    .4778498
             |                   80    .4936686        .4930649    .4942663
             |                   81     .510766        .5101613    .5113578
             |                   82    .5285751          .52794    .5291998
             |                   83    .5473379        .5466952    .5479749
             |                   84    .5671001        .5664087    .5677534
             |                   85    .5883129        .5876383     .589008
             |                   86    .6111432        .6104288    .6118856
             |                   87    .6357272         .634973    .6365164
             |                   88    .6627565        .6619315    .6635746
             |                   89     .692771        .6919043    .6936128
             |                   90    .7264037         .725487    .7273871
             |                   91    .7646195        .7635789    .7656751
             |                   92    .8077516        .8066638    .8088599
             |                   93    .8552965         .854215    .8563883
             |                   94    .9012536        .9002822    .9021642
             |                   95    .9416802        .9410017    .9424016
             |                   96    .9767885        .9761754     .977353
             |                   97    1.010179        1.009669      1.0107
             |                   98    1.048787        1.048211    1.049356
             |                   99    1.108353        1.107613    1.109083
(781,887 missing values generated)

cproba_pool |
         ed |      Freq.     Percent        Cum.
------------+-----------------------------------
  -.2264187 |     48,852        1.00        1.00
  -.1875813 |     48,853        1.00        2.00
  -.1637914 |     48,853        1.00        3.00
  -.1461441 |     48,853        1.00        4.00
  -.1318351 |     48,853        1.00        5.00
  -.1195627 |     48,853        1.00        6.00
  -.1089659 |     48,852        1.00        7.00
  -.0993888 |     48,853        1.00        8.00
  -.0906177 |     48,853        1.00        9.00
  -.0825175 |     48,853        1.00       10.00
  -.0749211 |     48,853        1.00       11.00
  -.0678416 |     48,853        1.00       12.00
  -.0610117 |     48,853        1.00       13.00
  -.0545329 |     48,852        1.00       14.00
  -.0483397 |     48,853        1.00       15.00
  -.0423699 |     48,853        1.00       16.00
  -.0365923 |     48,853        1.00       17.00
  -.0309689 |     48,853        1.00       18.00
  -.0254139 |     48,853        1.00       19.00
  -.0199922 |     48,853        1.00       20.00
  -.0146656 |     48,852        1.00       21.00
  -.0093761 |     48,853        1.00       22.00
  -.0041637 |     48,853        1.00       23.00
   .0009562 |     48,853        1.00       24.00
   .0060731 |     48,853        1.00       25.00
   .0112398 |     48,853        1.00       26.00
   .0163668 |     48,852        1.00       27.00
   .0214916 |     48,853        1.00       28.00
   .0266737 |     48,853        1.00       29.00
   .0319078 |     48,853        1.00       30.00
   .0371698 |     48,853        1.00       31.00
   .0424873 |     48,853        1.00       32.00
   .0478866 |     48,853        1.00       33.00
   .0533822 |     48,852        1.00       34.00
   .0589448 |     48,853        1.00       35.00
   .0646189 |     48,853        1.00       36.00
   .0703627 |     48,853        1.00       37.00
   .0762756 |     48,853        1.00       38.00
   .0823116 |     48,853        1.00       39.00
   .0884534 |     48,853        1.00       40.00
   .0947211 |     48,852        1.00       41.00
   .1011289 |     48,853        1.00       42.00
   .1076375 |     48,853        1.00       43.00
   .1143095 |     48,853        1.00       44.00
   .1211594 |     48,853        1.00       45.00
   .1281361 |     48,853        1.00       46.00
   .1353009 |     48,852        1.00       47.00
   .1426327 |     48,853        1.00       48.00
   .1501103 |     48,853        1.00       49.00
   .1577599 |     48,853        1.00       50.00
   .1655835 |     48,853        1.00       51.00
   .1735326 |     48,853        1.00       52.00
   .1816972 |     48,853        1.00       53.00
   .1899984 |     48,852        1.00       54.00
   .1985705 |     48,853        1.00       55.00
   .2073036 |     48,853        1.00       56.00
   .2161084 |     48,853        1.00       57.00
   .2252468 |     48,853        1.00       58.00
   .2344325 |     48,853        1.00       59.00
   .2439569 |     48,852        1.00       60.00
   .2536785 |     48,853        1.00       61.00
   .2635317 |     48,853        1.00       62.00
   .2736544 |     48,853        1.00       63.00
   .2840356 |     48,853        1.00       64.00
   .2947348 |     48,853        1.00       65.00
   .3056358 |     48,853        1.00       66.00
   .3168033 |     48,852        1.00       67.00
     .32827 |     48,853        1.00       68.00
   .3400401 |     48,853        1.00       69.00
   .3520588 |     48,853        1.00       70.00
   .3644433 |     48,853        1.00       71.00
   .3771403 |     48,853        1.00       72.00
   .3902358 |     48,853        1.00       73.00
   .4037081 |     48,852        1.00       74.00
    .417565 |     48,853        1.00       75.00
   .4317683 |     48,853        1.00       76.00
   .4464162 |     48,853        1.00       77.00
   .4616223 |     48,853        1.00       78.00
   .4772684 |     48,853        1.00       79.00
   .4936686 |     48,853        1.00       80.00
    .510766 |     48,852        1.00       81.00
   .5285751 |     48,853        1.00       82.00
   .5473379 |     48,853        1.00       83.00
   .5671001 |     48,853        1.00       84.00
   .5883129 |     48,853        1.00       85.00
   .6111432 |     48,853        1.00       86.00
   .6357272 |     48,852        1.00       87.00
   .6627565 |     48,853        1.00       88.00
    .692771 |     48,853        1.00       89.00
   .7264037 |     48,853        1.00       90.00
   .7646195 |     48,853        1.00       91.00
   .8077515 |     48,853        1.00       92.00
   .8552965 |     48,853        1.00       93.00
   .9012536 |     48,852        1.00       94.00
   .9416801 |     48,853        1.00       95.00
   .9767885 |     48,853        1.00       96.00
   1.010179 |     48,853        1.00       97.00
   1.048787 |     48,853        1.00       98.00
   1.108353 |     48,853        1.00       99.00
   1.756894 |     48,852        1.00      100.00
------------+-----------------------------------
      Total |  4,885,284      100.00

Linear regression                               Number of obs     =  1,501,766
                                                F(3, 40340)       =    3047.49
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0486
                                                Root MSE          =     1.1752

                                 (Std. Err. adjusted for 40,341 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0647337   .0011257    57.51   0.000     .0625274      .06694
    age_ele1 |  -.0535086   .0007757   -68.98   0.000    -.0550291   -.0519882
proba_pooled |  -.4088175    .005335   -76.63   0.000    -.4192742   -.3983607
       _cons |   .3340959    .003929    85.03   0.000     .3263949    .3417969
------------------------------------------------------------------------------
(est1 stored)

Linear regression                               Number of obs     =  1,501,766
                                                F(4, 40340)       =    2384.76
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0488
                                                Root MSE          =     1.1751

                                 (Std. Err. adjusted for 40,341 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0753004   .0015516    48.53   0.000     .0722593    .0783416
    age_ele1 |  -.0538403   .0007685   -70.06   0.000    -.0553466    -.052334
   diff_ele1 |  -.0033137   .0003925    -8.44   0.000     -.004083   -.0025445
proba_pooled |   -.408849   .0053289   -76.72   0.000    -.4192937   -.3984042
       _cons |   .3348675   .0039107    85.63   0.000     .3272025    .3425325
------------------------------------------------------------------------------
(est2 stored)
(running regress on estimation sample)

Bootstrap replications (50)
----+--- 1 ---+--- 2 ---+--- 3 ---+--- 4 ---+--- 5 
..................................................    50

Linear regression                               Number of obs     =  1,501,766
                                                Replications      =         50
                                                Wald chi2(4)      =   41139.06
                                                Prob > chi2       =     0.0000
                                                R-squared         =     0.0488
                                                Adj R-squared     =     0.0488
                                                Root MSE          =     1.1751

------------------------------------------------------------------------------
             |   Observed   Bootstrap                         Normal-based
      dprior |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0753004   .0009825    76.64   0.000     .0733747    .0772262
    age_ele1 |  -.0538403   .0006128   -87.87   0.000    -.0550413   -.0526393
   diff_ele1 |  -.0033137   .0002329   -14.23   0.000    -.0037702   -.0028573
proba_pooled |   -.408849   .0027916  -146.46   0.000    -.4143204   -.4033776
       _cons |   .3348675   .0027351   122.43   0.000     .3295067    .3402282
------------------------------------------------------------------------------
(est3 stored)
note: diff_ele1_1 omitted because of collinearity
note: diff_ele1_10 omitted because of collinearity
note: ele1_1 omitted because of collinearity
note: ele1_8 omitted because of collinearity
note: ele1_10 omitted because of collinearity

Linear regression                               Number of obs     =  1,501,766
                                                F(16, 40340)      =     716.33
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0509
                                                Root MSE          =     1.1738

                                 (Std. Err. adjusted for 40,341 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
 diff_ele1_1 |          0  (omitted)
 diff_ele1_2 |   .0692765   .0012174    56.90   0.000     .0668903    .0716628
 diff_ele1_3 |   .0642302   .0012974    49.51   0.000     .0616873    .0667732
 diff_ele1_4 |   .0595482   .0016115    36.95   0.000     .0563897    .0627067
 diff_ele1_5 |   .0562593   .0024478    22.98   0.000     .0514617     .061057
 diff_ele1_6 |   .0588507   .0022912    25.69   0.000     .0543599    .0633415
 diff_ele1_7 |    .054616   .0026608    20.53   0.000     .0494008    .0598312
 diff_ele1_8 |   .0507202    .003545    14.31   0.000     .0437719    .0576684
 diff_ele1_9 |   .0542711   .0066976     8.10   0.000     .0411436    .0673986
diff_ele1_10 |          0  (omitted)
      ele1_1 |          0  (omitted)
      ele1_2 |   .2714498    .007075    38.37   0.000     .2575827    .2853169
      ele1_3 |   .1033013   .0069298    14.91   0.000     .0897187    .1168839
      ele1_4 |   .0672894    .006929     9.71   0.000     .0537084    .0808705
      ele1_5 |   .0379002   .0072469     5.23   0.000      .023696    .0521043
      ele1_6 |   .0247991   .0079588     3.12   0.002     .0091997    .0403985
      ele1_7 |   .0216763   .0088801     2.44   0.015     .0042711    .0390815
      ele1_8 |          0  (omitted)
      ele1_9 |   .0124825   .0129461     0.96   0.335    -.0128922    .0378572
     ele1_10 |          0  (omitted)
proba_pooled |  -.4166894   .0053359   -78.09   0.000    -.4271478    -.406231
       _cons |   .0036916   .0065884     0.56   0.575    -.0092218     .016605
------------------------------------------------------------------------------
(est4 stored)
note: bin2 omitted because of collinearity

Linear regression                               Number of obs     =  1,501,766
                                                F(101, 40340)     =     122.74
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0520
                                                Root MSE          =     1.1732

                                 (Std. Err. adjusted for 40,341 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0649464     .00113    57.48   0.000     .0627317    .0671612
    age_ele1 |  -.0567962   .0007923   -71.69   0.000    -.0583491   -.0552433
        bin1 |   .0306576   .0157912     1.94   0.052    -.0002934    .0616087
        bin2 |          0  (omitted)
        bin3 |  -.0060355   .0147548    -0.41   0.683    -.0349553    .0228843
        bin4 |  -.0287529   .0147591    -1.95   0.051    -.0576811    .0001754
        bin5 |  -.0565459   .0145868    -3.88   0.000    -.0851364   -.0279555
        bin6 |  -.0631686   .0143203    -4.41   0.000    -.0912368   -.0351004
        bin7 |   -.092851   .0144824    -6.41   0.000     -.121237   -.0644651
        bin8 |  -.0966367   .0141716    -6.82   0.000    -.1244134   -.0688601
        bin9 |  -.1228774   .0140843    -8.72   0.000    -.1504829   -.0952718
       bin10 |  -.1206165    .013983    -8.63   0.000    -.1480235   -.0932094
       bin11 |  -.1439486    .014306   -10.06   0.000    -.1719887   -.1159085
       bin12 |   -.167973   .0140173   -11.98   0.000    -.1954473   -.1404986
       bin13 |  -.1721198   .0139769   -12.31   0.000    -.1995148   -.1447248
       bin14 |   -.170285   .0140703   -12.10   0.000    -.1978632   -.1427069
       bin15 |  -.1914152   .0135894   -14.09   0.000    -.2180507   -.1647797
       bin16 |  -.2006061   .0145615   -13.78   0.000    -.2291469   -.1720653
       bin17 |  -.2093494   .0140195   -14.93   0.000    -.2368279   -.1818709
       bin18 |  -.2302532   .0141928   -16.22   0.000    -.2580713    -.202435
       bin19 |  -.2259975   .0140172   -16.12   0.000    -.2534715   -.1985235
       bin20 |  -.2309978    .014254   -16.21   0.000     -.258936   -.2030596
       bin21 |  -.2522531   .0139312   -18.11   0.000    -.2795586   -.2249476
       bin22 |  -.2556909   .0141158   -18.11   0.000    -.2833581   -.2280236
       bin23 |  -.2479514    .014168   -17.50   0.000    -.2757211   -.2201817
       bin24 |  -.2763277   .0143458   -19.26   0.000    -.3044459   -.2482096
       bin25 |  -.2782216   .0135593   -20.52   0.000    -.3047982   -.2516451
       bin26 |  -.2838815   .0144155   -19.69   0.000    -.3121362   -.2556268
       bin27 |  -.2664143   .0141434   -18.84   0.000    -.2941357    -.238693
       bin28 |    -.28477   .0138836   -20.51   0.000    -.3119821   -.2575578
       bin29 |  -.2861776   .0139057   -20.58   0.000     -.313433   -.2589221
       bin30 |  -.2943572   .0145252   -20.27   0.000     -.322827   -.2658874
       bin31 |  -.3034322    .013956   -21.74   0.000    -.3307863   -.2760781
       bin32 |  -.2936849   .0140352   -20.92   0.000    -.3211942   -.2661755
       bin33 |  -.3082128   .0140854   -21.88   0.000    -.3358205    -.280605
       bin34 |    -.29986   .0144882   -20.70   0.000    -.3282571   -.2714629
       bin35 |  -.3056458   .0143742   -21.26   0.000    -.3338196    -.277472
       bin36 |  -.3111347   .0142313   -21.86   0.000    -.3390283   -.2832411
       bin37 |  -.3088389   .0142888   -21.61   0.000    -.3368453   -.2808326
       bin38 |  -.3040175   .0146905   -20.69   0.000    -.3328113   -.2752238
       bin39 |  -.3118666      .0142   -21.96   0.000    -.3396991   -.2840342
       bin40 |  -.3042807   .0145112   -20.97   0.000     -.332723   -.2758384
       bin41 |  -.3146683    .014449   -21.78   0.000    -.3429888   -.2863479
       bin42 |  -.3104213   .0146101   -21.25   0.000    -.3390575   -.2817851
       bin43 |  -.3148557   .0146212   -21.53   0.000    -.3435136   -.2861978
       bin44 |  -.2894124   .0146395   -19.77   0.000    -.3181062   -.2607187
       bin45 |  -.2987571   .0144392   -20.69   0.000    -.3270583   -.2704559
       bin46 |  -.3216499   .0148745   -21.62   0.000    -.3508043   -.2924956
       bin47 |  -.3135876    .014768   -21.23   0.000    -.3425332    -.284642
       bin48 |  -.3267593   .0149223   -21.90   0.000    -.3560075   -.2975112
       bin49 |  -.3024788   .0144142   -20.98   0.000     -.330731   -.2742267
       bin50 |  -.2975404   .0149583   -19.89   0.000    -.3268589   -.2682218
       bin51 |   -.305912   .0147119   -20.79   0.000    -.3347476   -.2770763
       bin52 |  -.3221395   .0148887   -21.64   0.000    -.3513218   -.2929573
       bin53 |  -.3383357   .0150651   -22.46   0.000    -.3678637   -.3088077
       bin54 |  -.3257611   .0150062   -21.71   0.000    -.3551735   -.2963487
       bin55 |  -.3315032   .0148376   -22.34   0.000    -.3605851   -.3024212
       bin56 |  -.3436963    .015018   -22.89   0.000    -.3731319   -.3142607
       bin57 |  -.3509639   .0149876   -23.42   0.000      -.38034   -.3215879
       bin58 |  -.3428835    .015431   -22.22   0.000    -.3731285   -.3126384
       bin59 |  -.3459148   .0150115   -23.04   0.000    -.3753378   -.3164918
       bin60 |  -.3629609    .015336   -23.67   0.000    -.3930198   -.3329021
       bin61 |  -.3802034   .0149174   -25.49   0.000    -.4094417    -.350965
       bin62 |  -.3699064   .0151046   -24.49   0.000    -.3995118    -.340301
       bin63 |  -.3829229   .0154993   -24.71   0.000    -.4133019   -.3525439
       bin64 |  -.3984209   .0150552   -26.46   0.000    -.4279296   -.3689123
       bin65 |  -.4086482    .015457   -26.44   0.000    -.4389442   -.3783522
       bin66 |  -.4124287   .0154222   -26.74   0.000    -.4426565   -.3822008
       bin67 |  -.4171739   .0152844   -27.29   0.000    -.4471318   -.3872161
       bin68 |  -.4363229   .0157595   -27.69   0.000    -.4672119    -.405434
       bin69 |  -.4328122   .0158054   -27.38   0.000    -.4637912   -.4018332
       bin70 |  -.4513267   .0155374   -29.05   0.000    -.4817804    -.420873
       bin71 |  -.4584532   .0162911   -28.14   0.000     -.490384   -.4265223
       bin72 |  -.4501689   .0157728   -28.54   0.000     -.481084   -.4192538
       bin73 |  -.4555287    .015384   -29.61   0.000    -.4856816   -.4253758
       bin74 |  -.4626105    .015752   -29.37   0.000    -.4934849   -.4317362
       bin75 |  -.4833684   .0158187   -30.56   0.000    -.5143735   -.4523633
       bin76 |  -.4705071   .0160539   -29.31   0.000    -.5019732   -.4390411
       bin77 |  -.5150747   .0155321   -33.16   0.000    -.5455178   -.4846315
       bin78 |  -.4979498   .0159443   -31.23   0.000     -.529201   -.4666985
       bin79 |  -.5172027   .0162521   -31.82   0.000    -.5490572   -.4853482
       bin80 |  -.5333016   .0156726   -34.03   0.000    -.5640201    -.502583
       bin81 |    -.53026   .0154955   -34.22   0.000    -.5606316   -.4998885
       bin82 |   -.561962   .0155176   -36.21   0.000    -.5923768   -.5315471
       bin83 |  -.5557939   .0156005   -35.63   0.000    -.5863713   -.5252165
       bin84 |  -.5830014   .0162064   -35.97   0.000    -.6147663   -.5512365
       bin85 |  -.5712188   .0158192   -36.11   0.000    -.6022248   -.5402128
       bin86 |  -.5882095   .0160125   -36.73   0.000    -.6195944   -.5568247
       bin87 |   -.593292   .0154011   -38.52   0.000    -.6234786   -.5631054
       bin88 |  -.6111042   .0159554   -38.30   0.000    -.6423772   -.5798313
       bin89 |  -.5860358   .0155401   -37.71   0.000    -.6164948   -.5555769
       bin90 |  -.5986534   .0156085   -38.35   0.000    -.6292465   -.5680602
       bin91 |  -.5929657   .0151909   -39.03   0.000    -.6227402   -.5631912
       bin92 |  -.5822367   .0155834   -37.36   0.000    -.6127805   -.5516929
       bin93 |  -.5079159   .0153178   -33.16   0.000    -.5379392   -.4778925
       bin94 |  -.4520598   .0151351   -29.87   0.000     -.481725   -.4223946
       bin95 |    -.41583   .0149503   -27.81   0.000     -.445133    -.386527
       bin96 |  -.4585287   .0146972   -31.20   0.000    -.4873355    -.429722
       bin97 |  -.5117531   .0139638   -36.65   0.000    -.5391224   -.4843838
       bin98 |  -.5887959   .0142857   -41.22   0.000    -.6167961   -.5607957
       bin99 |  -.6722371   .0148728   -45.20   0.000    -.7013882    -.643086
      bin100 |  -.6968367   .0152202   -45.78   0.000    -.7266687   -.6670048
       _cons |   .5965035   .0121869    48.95   0.000      .572617      .62039
------------------------------------------------------------------------------
(est5 stored)
note: bin2 omitted because of collinearity

Linear regression                               Number of obs     =  1,501,766
                                                F(102, 40340)     =     124.55
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0522
                                                Root MSE          =      1.173

                                 (Std. Err. adjusted for 40,341 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0754954   .0015586    48.44   0.000     .0724406    .0785502
    age_ele1 |  -.0571272   .0007851   -72.77   0.000     -.058666   -.0555885
   diff_ele1 |  -.0033082   .0003953    -8.37   0.000    -.0040829   -.0025335
        bin1 |   .0299526   .0157797     1.90   0.058     -.000976    .0608813
        bin2 |          0  (omitted)
        bin3 |  -.0059426   .0147467    -0.40   0.687    -.0348466    .0229613
        bin4 |  -.0286808   .0147587    -1.94   0.052    -.0576082    .0002465
        bin5 |  -.0563317   .0145769    -3.86   0.000    -.0849028   -.0277606
        bin6 |  -.0634361   .0143106    -4.43   0.000    -.0914853    -.035387
        bin7 |  -.0926427   .0144685    -6.40   0.000    -.1210012   -.0642842
        bin8 |  -.0967498   .0141614    -6.83   0.000    -.1245065   -.0689931
        bin9 |  -.1226742   .0140758    -8.72   0.000    -.1502631   -.0950853
       bin10 |   -.120484   .0139748    -8.62   0.000     -.147875    -.093093
       bin11 |  -.1436808    .014298   -10.05   0.000    -.1717052   -.1156565
       bin12 |   -.167928   .0140069   -11.99   0.000    -.1953818   -.1404742
       bin13 |  -.1723444   .0139706   -12.34   0.000    -.1997271   -.1449617
       bin14 |  -.1702276   .0140664   -12.10   0.000    -.1977981    -.142657
       bin15 |  -.1914487   .0135883   -14.09   0.000     -.218082   -.1648154
       bin16 |  -.2001835   .0145537   -13.75   0.000    -.2287091   -.1716578
       bin17 |  -.2093584   .0140081   -14.95   0.000    -.2368145   -.1819023
       bin18 |  -.2300631    .014182   -16.22   0.000    -.2578601   -.2022661
       bin19 |  -.2260425   .0140117   -16.13   0.000    -.2535056   -.1985793
       bin20 |  -.2309437    .014257   -16.20   0.000    -.2588878   -.2029997
       bin21 |   -.252246   .0139259   -18.11   0.000    -.2795411   -.2249508
       bin22 |  -.2556691   .0141253   -18.10   0.000     -.283355   -.2279833
       bin23 |   -.247893   .0141609   -17.51   0.000    -.2756487   -.2201374
       bin24 |  -.2761115   .0143382   -19.26   0.000    -.3042146   -.2480084
       bin25 |  -.2782178   .0135466   -20.54   0.000    -.3047694   -.2516662
       bin26 |  -.2838904   .0143957   -19.72   0.000    -.3121063   -.2556745
       bin27 |  -.2663017   .0141517   -18.82   0.000    -.2940393    -.238564
       bin28 |  -.2846078   .0138742   -20.51   0.000    -.3118016    -.257414
       bin29 |  -.2856917   .0139073   -20.54   0.000    -.3129503    -.258433
       bin30 |  -.2942463    .014516   -20.27   0.000    -.3226979   -.2657946
       bin31 |  -.3031029   .0139576   -21.72   0.000    -.3304602   -.2757456
       bin32 |  -.2933187   .0140427   -20.89   0.000    -.3208427   -.2657948
       bin33 |  -.3080208   .0140839   -21.87   0.000    -.3356255   -.2804161
       bin34 |  -.2997032   .0144864   -20.69   0.000    -.3280968   -.2713095
       bin35 |  -.3057177   .0143698   -21.28   0.000    -.3338829   -.2775526
       bin36 |  -.3108301   .0142229   -21.85   0.000    -.3387073   -.2829529
       bin37 |   -.308736   .0142974   -21.59   0.000    -.3367592   -.2807128
       bin38 |  -.3039373   .0146994   -20.68   0.000    -.3327485   -.2751261
       bin39 |  -.3116148   .0142008   -21.94   0.000    -.3394487   -.2837809
       bin40 |  -.3039655   .0144987   -20.96   0.000    -.3323833   -.2755476
       bin41 |  -.3145295   .0144491   -21.77   0.000    -.3428502   -.2862089
       bin42 |  -.3103685   .0146048   -21.25   0.000    -.3389942   -.2817429
       bin43 |  -.3146398   .0146155   -21.53   0.000    -.3432865   -.2859931
       bin44 |  -.2894264   .0146488   -19.76   0.000    -.3181384   -.2607144
       bin45 |  -.2987503   .0144397   -20.69   0.000    -.3270524   -.2704482
       bin46 |  -.3213825   .0148657   -21.62   0.000    -.3505196   -.2922454
       bin47 |  -.3134578   .0147672   -21.23   0.000    -.3424019   -.2845137
       bin48 |  -.3265485   .0149263   -21.88   0.000    -.3558044   -.2972927
       bin49 |   -.302383   .0144101   -20.98   0.000    -.3306271    -.274139
       bin50 |   -.297368   .0149544   -19.89   0.000    -.3266789   -.2680571
       bin51 |  -.3055143   .0147127   -20.77   0.000    -.3343516   -.2766769
       bin52 |  -.3215934   .0148967   -21.59   0.000    -.3507912   -.2923955
       bin53 |  -.3381672   .0150657   -22.45   0.000    -.3676963   -.3086382
       bin54 |   -.325573   .0150074   -21.69   0.000    -.3549879   -.2961581
       bin55 |  -.3314411    .014833   -22.34   0.000    -.3605141    -.302368
       bin56 |  -.3432259   .0150096   -22.87   0.000     -.372645   -.3138067
       bin57 |  -.3510037   .0149867   -23.42   0.000    -.3803781   -.3216294
       bin58 |  -.3426517   .0154409   -22.19   0.000    -.3729162   -.3123871
       bin59 |  -.3457387   .0150087   -23.04   0.000     -.375156   -.3163214
       bin60 |  -.3625687   .0153337   -23.65   0.000    -.3926231   -.3325142
       bin61 |  -.3800062   .0149149   -25.48   0.000    -.4092397   -.3507728
       bin62 |  -.3697796   .0151126   -24.47   0.000    -.3994005   -.3401586
       bin63 |  -.3825718   .0155016   -24.68   0.000    -.4129553   -.3521883
       bin64 |  -.3984028   .0150508   -26.47   0.000    -.4279027    -.368903
       bin65 |  -.4085984   .0154597   -26.43   0.000    -.4388998   -.3782971
       bin66 |  -.4122877   .0154132   -26.75   0.000     -.442498   -.3820775
       bin67 |   -.417026   .0152736   -27.30   0.000    -.4469626   -.3870894
       bin68 |  -.4362371   .0157504   -27.70   0.000    -.4671083   -.4053659
       bin69 |  -.4322709   .0157971   -27.36   0.000    -.4632335   -.4013082
       bin70 |  -.4512792   .0155248   -29.07   0.000    -.4817081   -.4208502
       bin71 |   -.458387    .016289   -28.14   0.000    -.4903138   -.4264601
       bin72 |  -.4501069   .0157778   -28.53   0.000    -.4810317   -.4191821
       bin73 |  -.4555569   .0153874   -29.61   0.000    -.4857166   -.4253971
       bin74 |  -.4624567   .0157544   -29.35   0.000    -.4933356   -.4315778
       bin75 |   -.483293   .0158137   -30.56   0.000    -.5142882   -.4522977
       bin76 |  -.4702931   .0160538   -29.29   0.000    -.5017589   -.4388272
       bin77 |  -.5150763   .0155187   -33.19   0.000    -.5454934   -.4846593
       bin78 |   -.497979   .0159489   -31.22   0.000    -.5292393   -.4667187
       bin79 |  -.5172495   .0162537   -31.82   0.000    -.5491072   -.4853918
       bin80 |   -.533264   .0156555   -34.06   0.000    -.5639492   -.5025788
       bin81 |  -.5301847   .0154777   -34.25   0.000    -.5605214    -.499848
       bin82 |  -.5617192   .0155131   -36.21   0.000    -.5921253   -.5313132
       bin83 |  -.5558365    .015598   -35.64   0.000    -.5864088   -.5252641
       bin84 |  -.5828457    .016191   -36.00   0.000    -.6145803    -.551111
       bin85 |  -.5712586   .0158085   -36.14   0.000    -.6022437   -.5402735
       bin86 |  -.5881577   .0160084   -36.74   0.000    -.6195345   -.5567808
       bin87 |  -.5933872   .0153844   -38.57   0.000     -.623541   -.5632334
       bin88 |  -.6111368   .0159427   -38.33   0.000    -.6423849   -.5798887
       bin89 |  -.5860699   .0155155   -37.77   0.000    -.6164806   -.5556591
       bin90 |  -.5989802   .0156061   -38.38   0.000    -.6295684    -.568392
       bin91 |  -.5930041   .0151843   -39.05   0.000    -.6227657   -.5632425
       bin92 |  -.5820167   .0155659   -37.39   0.000    -.6125263   -.5515071
       bin93 |  -.5078902   .0153146   -33.16   0.000    -.5379071   -.4778733
       bin94 |  -.4521275   .0151291   -29.88   0.000     -.481781   -.4224741
       bin95 |   -.415688   .0149426   -27.82   0.000    -.4449759   -.3864002
       bin96 |  -.4581922    .014686   -31.20   0.000    -.4869771   -.4294074
       bin97 |  -.5115793   .0139655   -36.63   0.000    -.5389521   -.4842065
       bin98 |  -.5884931   .0142841   -41.20   0.000    -.6164902    -.560496
       bin99 |  -.6722041   .0148617   -45.23   0.000    -.7013332   -.6430749
      bin100 |  -.6968945   .0152086   -45.82   0.000    -.7267038   -.6670852
       _cons |   .5971523   .0121703    49.07   0.000     .5732983    .6210063
------------------------------------------------------------------------------
(est6 stored)
note: bin100 omitted because of collinearity
(running regress on estimation sample)

Bootstrap replications (50)
----+--- 1 ---+--- 2 ---+--- 3 ---+--- 4 ---+--- 5 
..................................................    50

Linear regression                               Number of obs     =  1,501,766
                                                Replications      =         50
                                                Wald chi2(49)     =          .
                                                Prob > chi2       =          .
                                                R-squared         =     0.0522
                                                Adj R-squared     =     0.0522
                                                Root MSE          =     1.1730

------------------------------------------------------------------------------
             |   Observed   Bootstrap                         Normal-based
      dprior |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
        diff |   .0754954   .0010895    69.29   0.000       .07336    .0776308
    age_ele1 |  -.0571272    .000541  -105.59   0.000    -.0581877   -.0560668
   diff_ele1 |  -.0033082   .0003233   -10.23   0.000    -.0039419   -.0026744
        bin1 |   .7268472   .0164829    44.10   0.000     .6945412    .7591531
        bin2 |   .6968945   .0162212    42.96   0.000     .6651016    .7286874
        bin3 |   .6909519   .0156801    44.07   0.000     .6602195    .7216843
        bin4 |   .6682137    .015578    42.89   0.000     .6376813    .6987461
        bin5 |   .6405628   .0163762    39.12   0.000      .608466    .6726597
        bin6 |   .6334584   .0150706    42.03   0.000     .6039205    .6629963
        bin7 |   .6042518   .0146916    41.13   0.000     .5754569    .6330468
        bin8 |   .6001447   .0138809    43.24   0.000     .5729387    .6273508
        bin9 |   .5742203    .012954    44.33   0.000     .5488309    .5996097
       bin10 |   .5764105   .0131708    43.76   0.000     .5505962    .6022249
       bin11 |   .5532137   .0159076    34.78   0.000     .5220354     .584392
       bin12 |   .5289665   .0136607    38.72   0.000      .502192    .5557411
       bin13 |   .5245502   .0151013    34.74   0.000     .4949521    .5541482
       bin14 |   .5266669   .0145141    36.29   0.000     .4982199     .555114
       bin15 |   .5054458   .0152512    33.14   0.000     .4755539    .5353377
       bin16 |   .4967111   .0159153    31.21   0.000     .4655177    .5279044
       bin17 |   .4875361   .0145145    33.59   0.000     .4590883    .5159839
       bin18 |   .4668315   .0138112    33.80   0.000      .439762    .4939009
       bin19 |   .4708521   .0130618    36.05   0.000     .4452514    .4964527
       bin20 |   .4659508      .0128    36.40   0.000     .4408632    .4910384
       bin21 |   .4446485    .013431    33.11   0.000     .4183242    .4709729
       bin22 |   .4412254   .0141563    31.17   0.000     .4134796    .4689711
       bin23 |   .4490015   .0139595    32.16   0.000     .4216413    .4763616
       bin24 |    .420783   .0155616    27.04   0.000     .3902829    .4512832
       bin25 |   .4186768   .0140613    29.78   0.000     .3911172    .4462363
       bin26 |   .4130041   .0151253    27.31   0.000     .3833591    .4426491
       bin27 |   .4305929   .0146481    29.40   0.000     .4018831    .4593026
       bin28 |   .4122867   .0136034    30.31   0.000     .3856246    .4389489
       bin29 |   .4112029   .0133686    30.76   0.000     .3850008    .4374049
       bin30 |   .4026483   .0135229    29.78   0.000     .3761439    .4291526
       bin31 |   .3937916   .0128067    30.75   0.000      .368691    .4188923
       bin32 |   .4035758   .0162572    24.82   0.000     .3717122    .4354394
       bin33 |   .3888737   .0163367    23.80   0.000     .3568545     .420893
       bin34 |   .3971913   .0155225    25.59   0.000     .3667679    .4276148
       bin35 |   .3911768   .0152474    25.66   0.000     .3612925    .4210611
       bin36 |   .3860644   .0157442    24.52   0.000     .3552064    .4169224
       bin37 |   .3881585    .014085    27.56   0.000     .3605525    .4157646
       bin38 |   .3929572   .0159725    24.60   0.000     .3616516    .4242628
       bin39 |   .3852797   .0163079    23.63   0.000     .3533168    .4172427
       bin40 |   .3929291   .0127795    30.75   0.000     .3678816    .4179765
       bin41 |    .382365   .0138345    27.64   0.000     .3552499    .4094801
       bin42 |    .386526   .0147716    26.17   0.000     .3575743    .4154777
       bin43 |   .3822548   .0131145    29.15   0.000     .3565508    .4079588
       bin44 |   .4074681   .0163802    24.88   0.000     .3753635    .4395728
       bin45 |   .3981442   .0154538    25.76   0.000     .3678553    .4284332
       bin46 |    .375512   .0157894    23.78   0.000     .3445653    .4064587
       bin47 |   .3834368   .0167498    22.89   0.000     .3506078    .4162657
       bin48 |    .370346   .0166348    22.26   0.000     .3377424    .4029496
       bin49 |   .3945115   .0157939    24.98   0.000     .3635561    .4254669
       bin50 |   .3995265   .0162821    24.54   0.000     .3676141    .4314389
       bin51 |   .3913803   .0141445    27.67   0.000     .3636575     .419103
       bin52 |   .3753012     .01568    23.94   0.000      .344569    .4060333
       bin53 |   .3587273   .0146947    24.41   0.000     .3299261    .3875285
       bin54 |   .3713215   .0164331    22.60   0.000     .3391133    .4035298
       bin55 |   .3654534   .0150869    24.22   0.000     .3358836    .3950233
       bin56 |   .3536687    .015323    23.08   0.000     .3236361    .3837012
       bin57 |   .3458908   .0148322    23.32   0.000     .3168203    .3749613
       bin58 |   .3542428   .0149573    23.68   0.000      .324927    .3835587
       bin59 |   .3511558   .0145471    24.14   0.000      .322644    .3796676
       bin60 |   .3343259   .0152418    21.93   0.000     .3044525    .3641992
       bin61 |   .3168883    .016319    19.42   0.000     .2849036     .348873
       bin62 |    .327115    .012941    25.28   0.000     .3017511    .3524788
       bin63 |   .3143228   .0150371    20.90   0.000     .2848505     .343795
       bin64 |   .2984917   .0140113    21.30   0.000     .2710301    .3259533
       bin65 |   .2882961   .0150765    19.12   0.000     .2587468    .3178455
       bin66 |   .2846068    .015825    17.98   0.000     .2535904    .3156232
       bin67 |   .2798685   .0181686    15.40   0.000     .2442587    .3154783
       bin68 |   .2606574   .0134742    19.34   0.000     .2342485    .2870663
       bin69 |   .2646237   .0153698    17.22   0.000     .2344994     .294748
       bin70 |   .2456154   .0156567    15.69   0.000     .2149287     .276302
       bin71 |   .2385076   .0150078    15.89   0.000     .2090929    .2679223
       bin72 |   .2467876   .0157956    15.62   0.000     .2158288    .2777465
       bin73 |   .2413377   .0148524    16.25   0.000     .2122275    .2704478
       bin74 |   .2344378   .0145565    16.11   0.000     .2059077     .262968
       bin75 |   .2136016   .0164183    13.01   0.000     .1814223    .2457808
       bin76 |   .2266014   .0134797    16.81   0.000     .2001817    .2530212
       bin77 |   .1818182   .0181559    10.01   0.000     .1462332    .2174032
       bin78 |   .1989155   .0170153    11.69   0.000     .1655662    .2322648
       bin79 |    .179645   .0149979    11.98   0.000     .1502497    .2090403
       bin80 |   .1636305   .0155158    10.55   0.000     .1332201    .1940409
       bin81 |   .1667098   .0169791     9.82   0.000     .1334315    .1999881
       bin82 |   .1351753   .0157992     8.56   0.000     .1042095    .1661411
       bin83 |   .1410581   .0152623     9.24   0.000     .1111444    .1709717
       bin84 |   .1140489   .0147506     7.73   0.000     .0851382    .1429596
       bin85 |   .1256359   .0125222    10.03   0.000     .1010928     .150179
       bin86 |   .1087368   .0163858     6.64   0.000     .0766212    .1408525
       bin87 |   .1035074   .0134734     7.68   0.000        .0771    .1299147
       bin88 |   .0857577    .013629     6.29   0.000     .0590455      .11247
       bin89 |   .1108247   .0170882     6.49   0.000     .0773325    .1443168
       bin90 |   .0979144    .016044     6.10   0.000     .0664688    .1293599
       bin91 |   .1038904   .0163947     6.34   0.000     .0717574    .1360234
       bin92 |   .1148778   .0149975     7.66   0.000     .0854833    .1442723
       bin93 |   .1890043   .0180328    10.48   0.000     .1536608    .2243479
       bin94 |    .244767   .0150183    16.30   0.000     .2153316    .2742024
       bin95 |   .2812065   .0157748    17.83   0.000     .2502885    .3121245
       bin96 |   .2387023   .0140386    17.00   0.000     .2111872    .2662174
       bin97 |   .1853152   .0167996    11.03   0.000     .1523887    .2182418
       bin98 |   .1084014   .0133446     8.12   0.000     .0822464    .1345564
       bin99 |   .0246905   .0126653     1.95   0.051     -.000133     .049514
      bin100 |          0  (omitted)
       _cons |  -.0997422   .0114032    -8.75   0.000    -.1220921   -.0773924
------------------------------------------------------------------------------
(est7 stored)
note: diff_ele1_1 omitted because of collinearity
note: diff_ele1_10 omitted because of collinearity
note: ele1_1 omitted because of collinearity
note: ele1_8 omitted because of collinearity
note: ele1_10 omitted because of collinearity
note: bin2 omitted because of collinearity

Linear regression                               Number of obs     =  1,501,766
                                                F(114, 40340)     =     129.39
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0543
                                                Root MSE          =     1.1718

                                 (Std. Err. adjusted for 40,341 clusters in i)
------------------------------------------------------------------------------
             |               Robust
      dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
 diff_ele1_1 |          0  (omitted)
 diff_ele1_2 |   .0694906   .0012209    56.92   0.000     .0670977    .0718836
 diff_ele1_3 |   .0644254   .0013027    49.45   0.000     .0618721    .0669788
 diff_ele1_4 |   .0597823   .0016135    37.05   0.000     .0566199    .0629447
 diff_ele1_5 |   .0564345   .0024515    23.02   0.000     .0516296    .0612394
 diff_ele1_6 |   .0589881   .0022897    25.76   0.000     .0545003    .0634758
 diff_ele1_7 |   .0549859   .0026737    20.57   0.000     .0497453    .0602264
 diff_ele1_8 |   .0510095   .0035808    14.25   0.000      .043991     .058028
 diff_ele1_9 |   .0544813   .0067575     8.06   0.000     .0412365    .0677262
diff_ele1_10 |          0  (omitted)
      ele1_1 |          0  (omitted)
      ele1_2 |   .2916636   .0071847    40.60   0.000     .2775814    .3057458
      ele1_3 |   .1202489   .0070269    17.11   0.000     .1064761    .1340217
      ele1_4 |    .080827   .0069957    11.55   0.000     .0671152    .0945388
      ele1_5 |   .0487034   .0072885     6.68   0.000     .0344178    .0629891
      ele1_6 |   .0323423   .0080286     4.03   0.000      .016606    .0480786
      ele1_7 |   .0261182   .0089382     2.92   0.003     .0085991    .0436373
      ele1_8 |          0  (omitted)
      ele1_9 |   .0067603   .0128997     0.52   0.600    -.0185234     .032044
     ele1_10 |          0  (omitted)
        bin1 |   .0315058   .0157474     2.00   0.045     .0006406    .0623711
        bin2 |          0  (omitted)
        bin3 |  -.0053818   .0147026    -0.37   0.714    -.0341992    .0234356
        bin4 |  -.0277606   .0147266    -1.89   0.059     -.056625    .0011038
        bin5 |   -.054306   .0145206    -3.74   0.000    -.0827667   -.0258452
        bin6 |  -.0623695   .0142838    -4.37   0.000    -.0903661   -.0343729
        bin7 |  -.0906425   .0144192    -6.29   0.000    -.1189044   -.0623806
        bin8 |   -.095036   .0140957    -6.74   0.000    -.1226639   -.0674081
        bin9 |  -.1213767   .0140476    -8.64   0.000    -.1489103   -.0938431
       bin10 |  -.1177417    .013914    -8.46   0.000    -.1450134   -.0904701
       bin11 |  -.1403785   .0142228    -9.87   0.000    -.1682555   -.1125016
       bin12 |  -.1642576   .0139326   -11.79   0.000    -.1915657   -.1369494
       bin13 |  -.1692068   .0139186   -12.16   0.000    -.1964876    -.141926
       bin14 |  -.1675663   .0139929   -11.98   0.000    -.1949927     -.14014
       bin15 |   -.187932   .0135234   -13.90   0.000    -.2144383   -.1614258
       bin16 |  -.1968565   .0144717   -13.60   0.000    -.2252213   -.1684917
       bin17 |  -.2057669   .0139353   -14.77   0.000    -.2330804   -.1784535
       bin18 |  -.2270786   .0141095   -16.09   0.000    -.2547336   -.1994236
       bin19 |  -.2227482   .0139486   -15.97   0.000    -.2500879   -.1954086
       bin20 |  -.2285586   .0142048   -16.09   0.000    -.2564004   -.2007169
       bin21 |  -.2480903   .0138528   -17.91   0.000     -.275242   -.2209385
       bin22 |  -.2516641   .0140506   -17.91   0.000    -.2792035   -.2241246
       bin23 |  -.2442183     .01413   -17.28   0.000    -.2719134   -.2165232
       bin24 |  -.2723595   .0142659   -19.09   0.000     -.300321   -.2443979
       bin25 |  -.2752242   .0135066   -20.38   0.000    -.3016975   -.2487509
       bin26 |  -.2811867   .0143511   -19.59   0.000    -.3093151   -.2530582
       bin27 |  -.2636732   .0141128   -18.68   0.000    -.2913346   -.2360118
       bin28 |  -.2807934   .0138186   -20.32   0.000    -.3078781   -.2537087
       bin29 |  -.2823054   .0138764   -20.34   0.000    -.3095034   -.2551074
       bin30 |  -.2904758   .0144752   -20.07   0.000    -.3188475   -.2621041
       bin31 |  -.2995613   .0138952   -21.56   0.000    -.3267962   -.2723263
       bin32 |  -.2897904    .013977   -20.73   0.000    -.3171857   -.2623951
       bin33 |  -.3046582   .0140287   -21.72   0.000    -.3321547   -.2771617
       bin34 |  -.2969194    .014421   -20.59   0.000    -.3251849   -.2686539
       bin35 |   -.301599   .0143183   -21.06   0.000    -.3296632   -.2735349
       bin36 |  -.3070579   .0141932   -21.63   0.000    -.3348768    -.279239
       bin37 |  -.3051543   .0142443   -21.42   0.000    -.3330734   -.2772352
       bin38 |  -.2998263   .0146568   -20.46   0.000    -.3285539   -.2710987
       bin39 |  -.3083969   .0141487   -21.80   0.000    -.3361286   -.2806651
       bin40 |  -.2999639   .0144656   -20.74   0.000    -.3283167   -.2716111
       bin41 |  -.3100612   .0144161   -21.51   0.000    -.3383172   -.2818053
       bin42 |  -.3069146   .0145522   -21.09   0.000    -.3354373   -.2783919
       bin43 |  -.3113016   .0146068   -21.31   0.000    -.3399311    -.282672
       bin44 |  -.2852768   .0145983   -19.54   0.000    -.3138898   -.2566638
       bin45 |   -.294584   .0143753   -20.49   0.000    -.3227598   -.2664081
       bin46 |  -.3172909   .0148522   -21.36   0.000    -.3464016   -.2881803
       bin47 |  -.3094031   .0147469   -20.98   0.000    -.3383074   -.2804988
       bin48 |  -.3217001   .0148827   -21.62   0.000    -.3508706   -.2925296
       bin49 |  -.2980206   .0143713   -20.74   0.000    -.3261887   -.2698525
       bin50 |  -.2936778   .0149142   -19.69   0.000      -.32291   -.2644456
       bin51 |  -.3014548   .0146765   -20.54   0.000    -.3302211   -.2726885
       bin52 |  -.3179952   .0148336   -21.44   0.000    -.3470694    -.288921
       bin53 |  -.3340571   .0150166   -22.25   0.000      -.36349   -.3046243
       bin54 |  -.3213052   .0149372   -21.51   0.000    -.3505825   -.2920278
       bin55 |  -.3277843   .0147951   -22.15   0.000     -.356783   -.2987856
       bin56 |  -.3400641   .0149441   -22.76   0.000    -.3693549   -.3107733
       bin57 |  -.3474889   .0149313   -23.27   0.000    -.3767546   -.3182231
       bin58 |  -.3389765   .0153765   -22.05   0.000    -.3691149   -.3088381
       bin59 |  -.3415972   .0149489   -22.85   0.000    -.3708974    -.312297
       bin60 |  -.3586935   .0152667   -23.50   0.000    -.3886165   -.3287705
       bin61 |  -.3758303   .0148493   -25.31   0.000    -.4049352   -.3467254
       bin62 |  -.3658377   .0150417   -24.32   0.000    -.3953197   -.3363556
       bin63 |  -.3800202   .0154485   -24.60   0.000    -.4102996   -.3497407
       bin64 |  -.3945032   .0149824   -26.33   0.000    -.4238689   -.3651374
       bin65 |  -.4056248   .0154092   -26.32   0.000    -.4358272   -.3754224
       bin66 |  -.4096564   .0153601   -26.67   0.000    -.4397626   -.3795501
       bin67 |  -.4145426   .0152281   -27.22   0.000    -.4443899   -.3846952
       bin68 |  -.4340427   .0157002   -27.65   0.000    -.4648155   -.4032699
       bin69 |  -.4299005   .0157249   -27.34   0.000    -.4607217   -.3990793
       bin70 |  -.4495527   .0154615   -29.08   0.000    -.4798575   -.4192478
       bin71 |  -.4572118   .0162092   -28.21   0.000    -.4889822   -.4254414
       bin72 |  -.4485101   .0157168   -28.54   0.000    -.4793154   -.4177048
       bin73 |  -.4545058    .015346   -29.62   0.000    -.4845844   -.4244272
       bin74 |  -.4617643   .0157052   -29.40   0.000    -.4925468   -.4309818
       bin75 |  -.4830237   .0157644   -30.64   0.000    -.5139222   -.4521251
       bin76 |  -.4706856   .0159752   -29.46   0.000    -.5019974   -.4393739
       bin77 |  -.5158018     .01547   -33.34   0.000    -.5461234   -.4854803
       bin78 |  -.4983187   .0158915   -31.36   0.000    -.5294664    -.467171
       bin79 |  -.5188805   .0162217   -31.99   0.000    -.5506754   -.4870857
       bin80 |  -.5352495   .0156062   -34.30   0.000     -.565838    -.504661
       bin81 |  -.5319718   .0154415   -34.45   0.000    -.5622375   -.5017061
       bin82 |  -.5649378   .0154417   -36.59   0.000    -.5952039   -.5346716
       bin83 |  -.5590142   .0155521   -35.94   0.000    -.5894967   -.5285318
       bin84 |  -.5859435   .0161523   -36.28   0.000    -.6176024   -.5542846
       bin85 |  -.5748274   .0157683   -36.45   0.000    -.6057337   -.5439212
       bin86 |  -.5917714   .0159808   -37.03   0.000    -.6230941   -.5604487
       bin87 |   -.597233   .0153307   -38.96   0.000    -.6272815   -.5671845
       bin88 |  -.6155442   .0158716   -38.78   0.000    -.6466529   -.5844355
       bin89 |  -.5905496   .0154501   -38.22   0.000    -.6208321    -.560267
       bin90 |  -.6028813   .0155611   -38.74   0.000    -.6333814   -.5723813
       bin91 |  -.5976305   .0151313   -39.50   0.000    -.6272883   -.5679728
       bin92 |  -.5859862   .0155326   -37.73   0.000    -.6164305   -.5555419
       bin93 |  -.5117551   .0152887   -33.47   0.000    -.5417214   -.4817889
       bin94 |  -.4545736   .0150849   -30.13   0.000    -.4841404   -.4250068
       bin95 |  -.4169935   .0149001   -27.99   0.000    -.4461981   -.3877889
       bin96 |  -.4596491   .0146446   -31.39   0.000    -.4883529   -.4309453
       bin97 |  -.5147525   .0138898   -37.06   0.000    -.5419768   -.4875282
       bin98 |  -.5925764   .0142231   -41.66   0.000     -.620454   -.5646987
       bin99 |  -.6784516   .0148128   -45.80   0.000     -.707485   -.6494182
      bin100 |  -.7043757   .0151621   -46.46   0.000    -.7340938   -.6746575
       _cons |   .2356331   .0126153    18.68   0.000     .2109068    .2603595
------------------------------------------------------------------------------
(est8 stored)

--------------------------------------------------------------------------------------------------
                 (1)        (2)        (3)        (4)        (5)        (6)        (7)        (8) 
                est1       est2       est3       est4       est5       est6       est7       est8 
--------------------------------------------------------------------------------------------------
diff           0.065a     0.075a     0.075a                0.065a     0.075a     0.075a           
             (0.001)    (0.002)    (0.001)               (0.001)    (0.002)    (0.001)            

age_ele1      -0.054a    -0.054a    -0.054a               -0.057a    -0.057a    -0.057a           
             (0.001)    (0.001)    (0.001)               (0.001)    (0.001)    (0.001)            

proba_po~d    -0.409a    -0.409a    -0.409a    -0.417a                                            
             (0.005)    (0.005)    (0.003)    (0.005)                                             

diff_ele1                -0.003a    -0.003a                          -0.003a    -0.003a           
                        (0.000)    (0.000)                          (0.000)    (0.000)            

diff_el~_1                                      0.000                                       0.000 
                                                  (.)                                         (.) 

diff_ele~2                                      0.069a                                      0.069a
                                              (0.001)                                     (0.001) 

diff_ele~3                                      0.064a                                      0.064a
                                              (0.001)                                     (0.001) 

diff_ele~4                                      0.060a                                      0.060a
                                              (0.002)                                     (0.002) 

diff_ele~5                                      0.056a                                      0.056a
                                              (0.002)                                     (0.002) 

diff_ele~6                                      0.059a                                      0.059a
                                              (0.002)                                     (0.002) 

diff_ele~7                                      0.055a                                      0.055a
                                              (0.003)                                     (0.003) 

diff_ele~8                                      0.051a                                      0.051a
                                              (0.004)                                     (0.004) 

diff_ele~9                                      0.054a                                      0.054a
                                              (0.007)                                     (0.007) 

diff_el~10                                      0.000                                       0.000 
                                                  (.)                                         (.) 

ele1_1                                          0.000                                       0.000 
                                                  (.)                                         (.) 

ele1_2                                          0.271a                                      0.292a
                                              (0.007)                                     (0.007) 

ele1_3                                          0.103a                                      0.120a
                                              (0.007)                                     (0.007) 

ele1_4                                          0.067a                                      0.081a
                                              (0.007)                                     (0.007) 

ele1_5                                          0.038a                                      0.049a
                                              (0.007)                                     (0.007) 

ele1_6                                          0.025a                                      0.032a
                                              (0.008)                                     (0.008) 

ele1_7                                          0.022b                                      0.026a
                                              (0.009)                                     (0.009) 

ele1_8                                          0.000                                       0.000 
                                                  (.)                                         (.) 

ele1_9                                          0.012                                       0.007 
                                              (0.013)                                     (0.013) 

ele1_10                                         0.000                                       0.000 
                                                  (.)                                         (.) 
--------------------------------------------------------------------------------------------------
N            1501766    1501766    1501766    1501766    1501766    1501766    1501766    1501766 
R-sq           0.049      0.049      0.049      0.051      0.052      0.052      0.052      0.054 
--------------------------------------------------------------------------------------------------
Standard errors in parentheses
c p<0.1, b p<0.05, a p<0.01

{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{8}{c}}
\hline\hline
                    &\multicolumn{1}{c}{(1)}&\multicolumn{1}{c}{(2)}&\multicolumn{1}{c}{(3)}&\multicolumn{1}{c}{(4)}&\multicolumn{1}{c}{(5)}&\multicolumn{1}{c}{(6)}&\multicolumn{1}{c}{(7)}&\multicolumn{1}{c}{(8)}\\
                    &\multicolumn{1}{c}{est1}&\multicolumn{1}{c}{est2}&\multicolumn{1}{c}{est3}&\multicolumn{1}{c}{est4}&\multicolumn{1}{c}{est5}&\multicolumn{1}{c}{est6}&\multicolumn{1}{c}{est7}&\multicolumn{1}{c}{est8}\\
\hline
$\widehat{a}\_{ijkt}-\varepsilon^q\_{ijk,t-1}$&       0.065{$^a$}&       0.075{$^a$}&       0.075{$^a$}&                  &       0.065{$^a$}&       0.075{$^a$}&       0.075{$^a$}&                  \\
                    &     (0.001)      &     (0.002)      &     (0.001)      &                  &     (0.001)      &     (0.002)      &     (0.001)      &                  \\
[1em]
Age$ \_{ijkt}$       &      -0.054{$^a$}&      -0.054{$^a$}&      -0.054{$^a$}&                  &      -0.057{$^a$}&      -0.057{$^a$}&      -0.057{$^a$}&                  \\
                    &     (0.001)      &     (0.001)      &     (0.001)      &                  &     (0.001)      &     (0.001)      &     (0.001)      &                  \\
[1em]
Xb + d[ikt jkt]     &      -0.409{$^a$}&      -0.409{$^a$}&      -0.409{$^a$}&      -0.417{$^a$}&                  &                  &                  &                  \\
                    &     (0.005)      &     (0.005)      &     (0.003)      &     (0.005)      &                  &                  &                  &                  \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}$&                  &      -0.003{$^a$}&      -0.003{$^a$}&                  &                  &      -0.003{$^a$}&      -0.003{$^a$}&                  \\
                    &                  &     (0.000)      &     (0.000)      &                  &                  &     (0.000)      &     (0.000)      &                  \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=1$&                  &                  &                  &       0.000      &                  &                  &                  &       0.000      \\
                    &                  &                  &                  &         (.)      &                  &                  &                  &         (.)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=2$&                  &                  &                  &       0.069{$^a$}&                  &                  &                  &       0.069{$^a$}\\
                    &                  &                  &                  &     (0.001)      &                  &                  &                  &     (0.001)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=3$&                  &                  &                  &       0.064{$^a$}&                  &                  &                  &       0.064{$^a$}\\
                    &                  &                  &                  &     (0.001)      &                  &                  &                  &     (0.001)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=4$&                  &                  &                  &       0.060{$^a$}&                  &                  &                  &       0.060{$^a$}\\
                    &                  &                  &                  &     (0.002)      &                  &                  &                  &     (0.002)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=5$&                  &                  &                  &       0.056{$^a$}&                  &                  &                  &       0.056{$^a$}\\
                    &                  &                  &                  &     (0.002)      &                  &                  &                  &     (0.002)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=6$&                  &                  &                  &       0.059{$^a$}&                  &                  &                  &       0.059{$^a$}\\
                    &                  &                  &                  &     (0.002)      &                  &                  &                  &     (0.002)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=7$&                  &                  &                  &       0.055{$^a$}&                  &                  &                  &       0.055{$^a$}\\
                    &                  &                  &                  &     (0.003)      &                  &                  &                  &     (0.003)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=8$&                  &                  &                  &       0.051{$^a$}&                  &                  &                  &       0.051{$^a$}\\
                    &                  &                  &                  &     (0.004)      &                  &                  &                  &     (0.004)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=9$&                  &                  &                  &       0.054{$^a$}&                  &                  &                  &       0.054{$^a$}\\
                    &                  &                  &                  &     (0.007)      &                  &                  &                  &     (0.007)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=10$&                  &                  &                  &       0.000      &                  &                  &                  &       0.000      \\
                    &                  &                  &                  &         (.)      &                  &                  &                  &         (.)      \\
[1em]
Age dummy, 1 years  &                  &                  &                  &       0.000      &                  &                  &                  &       0.000      \\
                    &                  &                  &                  &         (.)      &                  &                  &                  &         (.)      \\
[1em]
Age dummy, 2 years  &                  &                  &                  &       0.271{$^a$}&                  &                  &                  &       0.292{$^a$}\\
                    &                  &                  &                  &     (0.007)      &                  &                  &                  &     (0.007)      \\
[1em]
Age dummy, 3 years  &                  &                  &                  &       0.103{$^a$}&                  &                  &                  &       0.120{$^a$}\\
                    &                  &                  &                  &     (0.007)      &                  &                  &                  &     (0.007)      \\
[1em]
Age dummy, 4 years  &                  &                  &                  &       0.067{$^a$}&                  &                  &                  &       0.081{$^a$}\\
                    &                  &                  &                  &     (0.007)      &                  &                  &                  &     (0.007)      \\
[1em]
Age dummy, 5 years  &                  &                  &                  &       0.038{$^a$}&                  &                  &                  &       0.049{$^a$}\\
                    &                  &                  &                  &     (0.007)      &                  &                  &                  &     (0.007)      \\
[1em]
Age dummy, 6 years  &                  &                  &                  &       0.025{$^a$}&                  &                  &                  &       0.032{$^a$}\\
                    &                  &                  &                  &     (0.008)      &                  &                  &                  &     (0.008)      \\
[1em]
Age dummy, 7 years  &                  &                  &                  &       0.022{$^b$}&                  &                  &                  &       0.026{$^a$}\\
                    &                  &                  &                  &     (0.009)      &                  &                  &                  &     (0.009)      \\
[1em]
Age dummy, 8 years  &                  &                  &                  &       0.000      &                  &                  &                  &       0.000      \\
                    &                  &                  &                  &         (.)      &                  &                  &                  &         (.)      \\
[1em]
Age dummy, 9 years  &                  &                  &                  &       0.012      &                  &                  &                  &       0.007      \\
                    &                  &                  &                  &     (0.013)      &                  &                  &                  &     (0.013)      \\
[1em]
Age dummy, 10 years &                  &                  &                  &       0.000      &                  &                  &                  &       0.000      \\
                    &                  &                  &                  &         (.)      &                  &                  &                  &         (.)      \\
\hline
Observations        &     1501766      &     1501766      &     1501766      &     1501766      &     1501766      &     1501766      &     1501766      &     1501766      \\
\(R^{2}\)           &       0.049      &       0.049      &       0.049      &       0.051      &       0.052      &       0.052      &       0.052      &       0.054      \\
\hline\hline
\multicolumn{9}{l}{\footnotesize Standard errors in parentheses}\\
\multicolumn{9}{l}{\footnotesize {$^c$} p<0.1, {$^b$} p<0.05, {$^a$} p<0.01}\\
\end{tabular}
}
(781,887 missing values generated)
(781,887 missing values generated)
(781,887 missing values generated)
(781,887 missing values generated)
(781,887 missing values generated)
(781,887 missing values generated)
(781,887 missing values generated)
(781,887 missing values generated)
(781,887 missing values generated)
(781,887 missing values generated)

Linear regression                               Number of obs     =  1,501,766
                                                F(12, 40340)      =     864.81
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0517
                                                Root MSE          =     1.1733

                                     (Std. Err. adjusted for 40,341 clusters in i)
----------------------------------------------------------------------------------
                 |               Robust
          dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-----------------+----------------------------------------------------------------
            diff |   .0649413     .00113    57.47   0.000     .0627265    .0671562
        age_ele1 |  -.0565942   .0007917   -71.48   0.000    -.0581459   -.0550424
 proba_pooled_e1 |   -.905029    .025254   -35.84   0.000    -.9545274   -.8555306
 proba_pooled_e2 |   3.826277    .155613    24.59   0.000     3.521272    4.131282
 proba_pooled_e3 |  -3.397012   .5539138    -6.13   0.000    -4.482696   -2.311328
 proba_pooled_e4 |  -35.68213   2.720686   -13.12   0.000    -41.01473   -30.34952
 proba_pooled_e5 |   73.61307   4.052173    18.17   0.000     65.67071    81.55542
 proba_pooled_e6 |   27.23045   9.207643     2.96   0.003     9.183263    45.27764
 proba_pooled_e7 |  -190.7807   22.47293    -8.49   0.000    -234.8282   -146.7333
 proba_pooled_e8 |   196.0834   22.37861     8.76   0.000     152.2208     239.946
 proba_pooled_e9 |  -83.31003   10.33253    -8.06   0.000     -103.562   -63.05803
proba_pooled_e10 |   13.04876   1.836083     7.11   0.000     9.449993    16.64752
           _cons |   .3405085    .004479    76.02   0.000     .3317297    .3492874
----------------------------------------------------------------------------------
(est1 stored)

Linear regression                               Number of obs     =  1,501,766
                                                F(13, 40340)      =     838.67
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0519
                                                Root MSE          =     1.1732

                                     (Std. Err. adjusted for 40,341 clusters in i)
----------------------------------------------------------------------------------
                 |               Robust
          dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-----------------+----------------------------------------------------------------
            diff |   .0754855   .0015577    48.46   0.000     .0724324    .0785386
        age_ele1 |  -.0569251   .0007844   -72.57   0.000    -.0584626   -.0553876
       diff_ele1 |  -.0033067   .0003952    -8.37   0.000    -.0040812   -.0025321
 proba_pooled_e1 |  -.9045154   .0252606   -35.81   0.000    -.9540268    -.855004
 proba_pooled_e2 |   3.824684   .1556718    24.57   0.000     3.519563    4.129804
 proba_pooled_e3 |  -3.388873   .5543333    -6.11   0.000    -4.475379   -2.302367
 proba_pooled_e4 |  -35.71435   2.724954   -13.11   0.000    -41.05532   -30.37338
 proba_pooled_e5 |   73.62594   4.053679    18.16   0.000     65.68063    81.57124
 proba_pooled_e6 |    27.3347   9.224149     2.96   0.003     9.255155    45.41424
 proba_pooled_e7 |  -190.9573   22.51432    -8.48   0.000    -235.0859   -146.8287
 proba_pooled_e8 |   196.1929   22.41655     8.75   0.000      152.256    240.1299
 proba_pooled_e9 |  -83.33589   10.34888    -8.05   0.000    -103.6199   -63.05185
proba_pooled_e10 |   13.04971   1.838823     7.10   0.000      9.44558    16.65385
           _cons |   .3412924   .0044624    76.48   0.000     .3325461    .3500388
----------------------------------------------------------------------------------
(est2 stored)
(running regress on estimation sample)

Bootstrap replications (50)
----+--- 1 ---+--- 2 ---+--- 3 ---+--- 4 ---+--- 5 
..................................................    50

Linear regression                               Number of obs     =  1,501,766
                                                Replications      =         50
                                                Wald chi2(13)     =   56982.76
                                                Prob > chi2       =     0.0000
                                                R-squared         =     0.0519
                                                Adj R-squared     =     0.0519
                                                Root MSE          =     1.1732

----------------------------------------------------------------------------------
                 |   Observed   Bootstrap                         Normal-based
          dprior |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-----------------+----------------------------------------------------------------
            diff |   .0754855   .0009532    79.19   0.000     .0736172    .0773537
        age_ele1 |  -.0569251   .0006114   -93.10   0.000    -.0581234   -.0557267
       diff_ele1 |  -.0033067   .0002558   -12.93   0.000     -.003808   -.0028053
 proba_pooled_e1 |  -.9045154   .0243463   -37.15   0.000    -.9522333   -.8567975
 proba_pooled_e2 |   3.824684   .1658681    23.06   0.000     3.499588    4.149779
 proba_pooled_e3 |  -3.388873   .5984068    -5.66   0.000    -4.561729   -2.216017
 proba_pooled_e4 |  -35.71435   3.057081   -11.68   0.000    -41.70612   -29.72258
 proba_pooled_e5 |   73.62594   5.155353    14.28   0.000     63.52163    83.73024
 proba_pooled_e6 |    27.3347   9.813474     2.79   0.005     8.100643    46.56875
 proba_pooled_e7 |  -190.9573   26.51308    -7.20   0.000     -242.922   -138.9926
 proba_pooled_e8 |   196.1929   28.12617     6.98   0.000     141.0666    251.3192
 proba_pooled_e9 |  -83.33589   13.59275    -6.13   0.000    -109.9772   -56.69459
proba_pooled_e10 |   13.04971   2.505884     5.21   0.000     8.138272    17.96116
           _cons |   .3412924   .0028804   118.49   0.000     .3356469     .346938
----------------------------------------------------------------------------------
(est3 stored)
note: diff_ele1_1 omitted because of collinearity
note: diff_ele1_10 omitted because of collinearity
note: ele1_1 omitted because of collinearity
note: ele1_8 omitted because of collinearity
note: ele1_10 omitted because of collinearity

Linear regression                               Number of obs     =  1,501,766
                                                F(25, 40340)      =     518.11
                                                Prob > F          =     0.0000
                                                R-squared         =     0.0539
                                                Root MSE          =      1.172

                                     (Std. Err. adjusted for 40,341 clusters in i)
----------------------------------------------------------------------------------
                 |               Robust
          dprior |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]
-----------------+----------------------------------------------------------------
     diff_ele1_1 |          0  (omitted)
     diff_ele1_2 |   .0694812   .0012206    56.92   0.000     .0670888    .0718736
     diff_ele1_3 |   .0644227   .0013024    49.46   0.000     .0618699    .0669754
     diff_ele1_4 |   .0597975   .0016138    37.05   0.000     .0566344    .0629605
     diff_ele1_5 |   .0564101   .0024539    22.99   0.000     .0516003    .0612198
     diff_ele1_6 |   .0590328   .0022887    25.79   0.000     .0545468    .0635187
     diff_ele1_7 |   .0549623   .0026722    20.57   0.000     .0497247    .0601998
     diff_ele1_8 |   .0509419   .0035817    14.22   0.000     .0439217    .0579621
     diff_ele1_9 |   .0545148   .0067501     8.08   0.000     .0412845     .067745
    diff_ele1_10 |          0  (omitted)
          ele1_1 |          0  (omitted)
          ele1_2 |   .2904838   .0071811    40.45   0.000     .2764086     .304559
          ele1_3 |   .1195417   .0070245    17.02   0.000     .1057736    .1333099
          ele1_4 |   .0801948   .0069954    11.46   0.000     .0664836    .0939059
          ele1_5 |   .0483324   .0072875     6.63   0.000     .0340487    .0626161
          ele1_6 |   .0320195    .008027     3.99   0.000     .0162863    .0477526
          ele1_7 |   .0259339   .0089388     2.90   0.004     .0084137    .0434541
          ele1_8 |          0  (omitted)
          ele1_9 |   .0067032    .012908     0.52   0.604    -.0185968    .0320033
         ele1_10 |          0  (omitted)
 proba_pooled_e1 |  -.8936167   .0252478   -35.39   0.000    -.9431029   -.8441306
 proba_pooled_e2 |   3.813714   .1558118    24.48   0.000     3.508319    4.119109
 proba_pooled_e3 |      -3.51   .5546749    -6.33   0.000    -4.597175   -2.422824
 proba_pooled_e4 |  -35.83164   2.748144   -13.04   0.000    -41.21806   -30.44521
 proba_pooled_e5 |   74.22841   4.068108    18.25   0.000     66.25483      82.202
 proba_pooled_e6 |   27.54099   9.293118     2.96   0.003     9.326263    45.75571
 proba_pooled_e7 |  -192.5507   22.73001    -8.47   0.000     -237.102   -147.9993
 proba_pooled_e8 |   197.6663   22.63572     8.73   0.000     153.2998    242.0329
 proba_pooled_e9 |  -83.85029   10.45157    -8.02   0.000    -104.3356   -63.36497
proba_pooled_e10 |    13.1073   1.857455     7.06   0.000     9.466646    16.74796
           _cons |  -.0154924   .0068121    -2.27   0.023    -.0288442   -.0021406
----------------------------------------------------------------------------------
(est4 stored)

------------------------------------------------------
                 (1)        (2)        (3)        (4) 
                est1       est2       est3       est4 
------------------------------------------------------
diff           0.065a     0.075a     0.075a           
             (0.001)    (0.002)    (0.001)            

age_ele1      -0.057a    -0.057a    -0.057a           
             (0.001)    (0.001)    (0.001)            

diff_ele1                -0.003a    -0.003a           
                        (0.000)    (0.000)            

diff_el~_1                                      0.000 
                                                  (.) 

diff_ele~2                                      0.069a
                                              (0.001) 

diff_ele~3                                      0.064a
                                              (0.001) 

diff_ele~4                                      0.060a
                                              (0.002) 

diff_ele~5                                      0.056a
                                              (0.002) 

diff_ele~6                                      0.059a
                                              (0.002) 

diff_ele~7                                      0.055a
                                              (0.003) 

diff_ele~8                                      0.051a
                                              (0.004) 

diff_ele~9                                      0.055a
                                              (0.007) 

diff_el~10                                      0.000 
                                                  (.) 

ele1_1                                          0.000 
                                                  (.) 

ele1_2                                          0.290a
                                              (0.007) 

ele1_3                                          0.120a
                                              (0.007) 

ele1_4                                          0.080a
                                              (0.007) 

ele1_5                                          0.048a
                                              (0.007) 

ele1_6                                          0.032a
                                              (0.008) 

ele1_7                                          0.026a
                                              (0.009) 

ele1_8                                          0.000 
                                                  (.) 

ele1_9                                          0.007 
                                              (0.013) 

ele1_10                                         0.000 
                                                  (.) 
------------------------------------------------------
N            1501766    1501766    1501766    1501766 
R-sq           0.052      0.052      0.052      0.054 
------------------------------------------------------
Standard errors in parentheses
c p<0.1, b p<0.05, a p<0.01

{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{4}{c}}
\hline\hline
                    &\multicolumn{1}{c}{(1)}&\multicolumn{1}{c}{(2)}&\multicolumn{1}{c}{(3)}&\multicolumn{1}{c}{(4)}\\
                    &\multicolumn{1}{c}{est1}&\multicolumn{1}{c}{est2}&\multicolumn{1}{c}{est3}&\multicolumn{1}{c}{est4}\\
\hline
$\widehat{a}\_{ijkt}-\varepsilon^q\_{ijk,t-1}$&       0.065{$^a$}&       0.075{$^a$}&       0.075{$^a$}&                  \\
                    &     (0.001)      &     (0.002)      &     (0.001)      &                  \\
[1em]
Age$ \_{ijkt}$       &      -0.057{$^a$}&      -0.057{$^a$}&      -0.057{$^a$}&                  \\
                    &     (0.001)      &     (0.001)      &     (0.001)      &                  \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}$&                  &      -0.003{$^a$}&      -0.003{$^a$}&                  \\
                    &                  &     (0.000)      &     (0.000)      &                  \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=1$&                  &                  &                  &       0.000      \\
                    &                  &                  &                  &         (.)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=2$&                  &                  &                  &       0.069{$^a$}\\
                    &                  &                  &                  &     (0.001)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=3$&                  &                  &                  &       0.064{$^a$}\\
                    &                  &                  &                  &     (0.001)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=4$&                  &                  &                  &       0.060{$^a$}\\
                    &                  &                  &                  &     (0.002)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=5$&                  &                  &                  &       0.056{$^a$}\\
                    &                  &                  &                  &     (0.002)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=6$&                  &                  &                  &       0.059{$^a$}\\
                    &                  &                  &                  &     (0.002)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=7$&                  &                  &                  &       0.055{$^a$}\\
                    &                  &                  &                  &     (0.003)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=8$&                  &                  &                  &       0.051{$^a$}\\
                    &                  &                  &                  &     (0.004)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=9$&                  &                  &                  &       0.055{$^a$}\\
                    &                  &                  &                  &     (0.007)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=10$&                  &                  &                  &       0.000      \\
                    &                  &                  &                  &         (.)      \\
[1em]
Age dummy, 1 years  &                  &                  &                  &       0.000      \\
                    &                  &                  &                  &         (.)      \\
[1em]
Age dummy, 2 years  &                  &                  &                  &       0.290{$^a$}\\
                    &                  &                  &                  &     (0.007)      \\
[1em]
Age dummy, 3 years  &                  &                  &                  &       0.120{$^a$}\\
                    &                  &                  &                  &     (0.007)      \\
[1em]
Age dummy, 4 years  &                  &                  &                  &       0.080{$^a$}\\
                    &                  &                  &                  &     (0.007)      \\
[1em]
Age dummy, 5 years  &                  &                  &                  &       0.048{$^a$}\\
                    &                  &                  &                  &     (0.007)      \\
[1em]
Age dummy, 6 years  &                  &                  &                  &       0.032{$^a$}\\
                    &                  &                  &                  &     (0.008)      \\
[1em]
Age dummy, 7 years  &                  &                  &                  &       0.026{$^a$}\\
                    &                  &                  &                  &     (0.009)      \\
[1em]
Age dummy, 8 years  &                  &                  &                  &       0.000      \\
                    &                  &                  &                  &         (.)      \\
[1em]
Age dummy, 9 years  &                  &                  &                  &       0.007      \\
                    &                  &                  &                  &     (0.013)      \\
[1em]
Age dummy, 10 years &                  &                  &                  &       0.000      \\
                    &                  &                  &                  &         (.)      \\
\hline
Observations        &     1501766      &     1501766      &     1501766      &     1501766      \\
\(R^{2}\)           &       0.052      &       0.052      &       0.052      &       0.054      \\
\hline\hline
\multicolumn{5}{l}{\footnotesize Standard errors in parentheses}\\
\multicolumn{5}{l}{\footnotesize {$^c$} p<0.1, {$^b$} p<0.05, {$^a$} p<0.01}\\
\end{tabular}
}

. 
. 
. * Table A.15 Heckman  
. 
. use $Output\dataset_brv_fe, clear

. global condition  "entry_ele!=1994 & entry_ele!=1995"

. 
. g age_ele1_prior = res_fe_qty*age_ele1

. 
. eststo:  heckman dprior diff age_ele1                                       if $condition, twostep select(exit_f1 = res_fe_qty diff_ele1 diff age_ele1 age_ele1_prior)
note: two-step estimate of rho = 1.1400624 is being truncated to 1

Heckman selection model -- two-step estimates   Number of obs     =    1550474
(regression model with sample selection)        Censored obs      =    1097165
                                                Uncensored obs    =    453,309

                                                Wald chi2(2)      =   12961.19
                                                Prob > chi2       =     0.0000

--------------------------------------------------------------------------------
               |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
---------------+----------------------------------------------------------------
dprior         |
          diff |   .0776054   .0015146    51.24   0.000     .0746368     .080574
      age_ele1 |   -.594335   .0057526  -103.32   0.000    -.6056099     -.58306
         _cons |  -3.903689   .0339764  -114.89   0.000    -3.970282   -3.837096
---------------+----------------------------------------------------------------
exit_f1        |
    res_fe_qty |  -.1044604    .002027   -51.53   0.000    -.1084333   -.1004874
     diff_ele1 |  -.0013583   .0002222    -6.11   0.000    -.0017938   -.0009227
          diff |  -.0000653   .0007366    -0.09   0.929    -.0015091    .0013785
      age_ele1 |  -.1456687    .000734  -198.46   0.000    -.1471073   -.1442301
age_ele1_prior |  -.0148567   .0005811   -25.56   0.000    -.0159958   -.0137177
         _cons |  -.0771831   .0025622   -30.12   0.000    -.0822049   -.0721613
---------------+----------------------------------------------------------------
mills          |
        lambda |   4.921672   .0389217   126.45   0.000     4.845386    4.997957
---------------+----------------------------------------------------------------
           rho |    1.00000
         sigma |  4.9216715
--------------------------------------------------------------------------------
(est1 stored)

. eststo:  heckman dprior diff age_ele1 diff_ele1         if $condition, twostep select(exit_f1 = res_fe_qty diff_ele1 diff age_ele1 age_ele1_prior)
note: two-step estimate of rho = 1.1400766 is being truncated to 1

Heckman selection model -- two-step estimates   Number of obs     =    1550474
(regression model with sample selection)        Censored obs      =    1097165
                                                Uncensored obs    =    453,309

                                                Wald chi2(3)      =   12959.86
                                                Prob > chi2       =     0.0000

--------------------------------------------------------------------------------
               |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
---------------+----------------------------------------------------------------
dprior         |
          diff |   .0862745    .003567    24.19   0.000     .0792834    .0932657
      age_ele1 |  -.5945338   .0057538  -103.33   0.000    -.6058109   -.5832566
     diff_ele1 |  -.0030898   .0011077    -2.79   0.005    -.0052608   -.0009188
         _cons |  -3.903918   .0339798  -114.89   0.000    -3.970517   -3.837318
---------------+----------------------------------------------------------------
exit_f1        |
    res_fe_qty |  -.1044604    .002027   -51.53   0.000    -.1084333   -.1004874
     diff_ele1 |  -.0013583   .0002222    -6.11   0.000    -.0017938   -.0009227
          diff |  -.0000653   .0007366    -0.09   0.929    -.0015091    .0013785
      age_ele1 |  -.1456687    .000734  -198.46   0.000    -.1471073   -.1442301
age_ele1_prior |  -.0148567   .0005811   -25.56   0.000    -.0159958   -.0137177
         _cons |  -.0771831   .0025622   -30.12   0.000    -.0822049   -.0721613
---------------+----------------------------------------------------------------
mills          |
        lambda |   4.922201   .0389258   126.45   0.000     4.845908    4.998495
---------------+----------------------------------------------------------------
           rho |    1.00000
         sigma |  4.9222013
--------------------------------------------------------------------------------
(est2 stored)

. eststo:  heckman dprior diff_ele1_* ele1_*              if $condition, twostep select(exit_f1 = res_fe_qty diff_ele1 diff age_ele1 age_ele1_prior)
note: diff_ele1_1 omitted because of collinearity
note: diff_ele1_10 omitted because of collinearity
note: ele1_1 omitted because of collinearity
note: ele1_9 omitted because of collinearity
note: ele1_10 omitted because of collinearity
note: two-step estimate of rho = 1.1400507 is being truncated to 1

Heckman selection model -- two-step estimates   Number of obs     =    1550474
(regression model with sample selection)        Censored obs      =    1097165
                                                Uncensored obs    =    453,309

                                                Wald chi2(15)     =   13025.57
                                                Prob > chi2       =     0.0000

--------------------------------------------------------------------------------
               |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
---------------+----------------------------------------------------------------
dprior         |
   diff_ele1_1 |          0  (omitted)
   diff_ele1_2 |   .0797752    .001908    41.81   0.000     .0760356    .0835149
   diff_ele1_3 |   .0782965   .0025204    31.06   0.000     .0733566    .0832365
   diff_ele1_4 |   .0758156   .0035149    21.57   0.000     .0689264    .0827047
   diff_ele1_5 |   .0616162   .0046723    13.19   0.000     .0524587    .0707738
   diff_ele1_6 |   .0724216   .0061926    11.69   0.000     .0602844    .0845588
   diff_ele1_7 |   .0695911   .0082522     8.43   0.000      .053417    .0857651
   diff_ele1_8 |   .0654585   .0105503     6.20   0.000     .0447803    .0861367
   diff_ele1_9 |   .0575715   .0157677     3.65   0.000     .0266674    .0884755
  diff_ele1_10 |          0  (omitted)
        ele1_1 |          0  (omitted)
        ele1_2 |   4.117612   .0592935    69.44   0.000     4.001399    4.233825
        ele1_3 |   3.458046   .0566817    61.01   0.000     3.346952    3.569141
        ele1_4 |   2.896693   .0544464    53.20   0.000      2.78998    3.003406
        ele1_5 |   2.326381   .0528058    44.06   0.000     2.222883    2.429878
        ele1_6 |   1.741931   .0520548    33.46   0.000     1.639905    1.843956
        ele1_7 |   1.166365   .0528854    22.05   0.000     1.062712    1.270019
        ele1_8 |   .6226212   .0560522    11.11   0.000     .5127609    .7324815
        ele1_9 |          0  (omitted)
       ele1_10 |          0  (omitted)
         _cons |  -9.189197   .0867606  -105.91   0.000    -9.359244   -9.019149
---------------+----------------------------------------------------------------
exit_f1        |
    res_fe_qty |  -.1044604    .002027   -51.53   0.000    -.1084333   -.1004874
     diff_ele1 |  -.0013583   .0002222    -6.11   0.000    -.0017938   -.0009227
          diff |  -.0000653   .0007366    -0.09   0.929    -.0015091    .0013785
      age_ele1 |  -.1456687    .000734  -198.46   0.000    -.1471073   -.1442301
age_ele1_prior |  -.0148567   .0005811   -25.56   0.000    -.0159958   -.0137177
         _cons |  -.0771831   .0025622   -30.12   0.000    -.0822049   -.0721613
---------------+----------------------------------------------------------------
mills          |
        lambda |   4.918377   .0389174   126.38   0.000     4.842101    4.994654
---------------+----------------------------------------------------------------
           rho |    1.00000
         sigma |  4.9183774
--------------------------------------------------------------------------------
(est3 stored)

. 
. set linesize 250

. esttab, mtitles drop(_cons) b(%5.3f) se(%5.3f) compress r2 starlevels(c 0.1 b 0.05 a 0.01)  se 

-------------------------------------------
                 (1)        (2)        (3) 
                est1       est2       est3 
-------------------------------------------
dprior                                     
diff           0.078a     0.086a           
             (0.002)    (0.004)            

age_ele1      -0.594a    -0.595a           
             (0.006)    (0.006)            

diff_ele1                -0.003a           
                        (0.001)            

diff_el~_1                           0.000 
                                       (.) 

diff_ele~2                           0.080a
                                   (0.002) 

diff_ele~3                           0.078a
                                   (0.003) 

diff_ele~4                           0.076a
                                   (0.004) 

diff_ele~5                           0.062a
                                   (0.005) 

diff_ele~6                           0.072a
                                   (0.006) 

diff_ele~7                           0.070a
                                   (0.008) 

diff_ele~8                           0.065a
                                   (0.011) 

diff_ele~9                           0.058a
                                   (0.016) 

diff_el~10                           0.000 
                                       (.) 

ele1_1                               0.000 
                                       (.) 

ele1_2                               4.118a
                                   (0.059) 

ele1_3                               3.458a
                                   (0.057) 

ele1_4                               2.897a
                                   (0.054) 

ele1_5                               2.326a
                                   (0.053) 

ele1_6                               1.742a
                                   (0.052) 

ele1_7                               1.166a
                                   (0.053) 

ele1_8                               0.623a
                                   (0.056) 

ele1_9                               0.000 
                                       (.) 

ele1_10                              0.000 
                                       (.) 
-------------------------------------------
exit_f1                                    
res_fe_qty    -0.104a    -0.104a    -0.104a
             (0.002)    (0.002)    (0.002) 

diff_ele1     -0.001a    -0.001a    -0.001a
             (0.000)    (0.000)    (0.000) 

diff          -0.000     -0.000     -0.000 
             (0.001)    (0.001)    (0.001) 

age_ele1      -0.146a    -0.146a    -0.146a
             (0.001)    (0.001)    (0.001) 

age_ele1~r    -0.015a    -0.015a    -0.015a
             (0.001)    (0.001)    (0.001) 
-------------------------------------------
mills                                      
lambda         4.922a     4.922a     4.918a
             (0.039)    (0.039)    (0.039) 
-------------------------------------------
N            1550474    1550474    1550474 
R-sq                                       
-------------------------------------------
Standard errors in parentheses
c p<0.1, b p<0.05, a p<0.01

. esttab, mtitles drop(_cons) b(%5.3f) se(%5.3f) r2  starlevels({$^c$} 0.1 {$^b$} 0.05 {$^a$} 0.01) se tex label  title() 

{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{3}{c}}
\hline\hline
                    &\multicolumn{1}{c}{(1)}&\multicolumn{1}{c}{(2)}&\multicolumn{1}{c}{(3)}\\
                    &\multicolumn{1}{c}{est1}&\multicolumn{1}{c}{est2}&\multicolumn{1}{c}{est3}\\
\hline
$\Delta\varepsilon^q\_{ijkt}$&                  &                  &                  \\
$\widehat{a}\_{ijkt}-\varepsilon^q\_{ijk,t-1}$&       0.078{$^a$}&       0.086{$^a$}&                  \\
                    &     (0.002)      &     (0.004)      &                  \\
[1em]
Age$ \_{ijkt}$       &      -0.594{$^a$}&      -0.595{$^a$}&                  \\
                    &     (0.006)      &     (0.006)      &                  \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}$&                  &      -0.003{$^a$}&                  \\
                    &                  &     (0.001)      &                  \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=1$&                  &                  &       0.000      \\
                    &                  &                  &         (.)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=2$&                  &                  &       0.080{$^a$}\\
                    &                  &                  &     (0.002)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=3$&                  &                  &       0.078{$^a$}\\
                    &                  &                  &     (0.003)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=4$&                  &                  &       0.076{$^a$}\\
                    &                  &                  &     (0.004)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=5$&                  &                  &       0.062{$^a$}\\
                    &                  &                  &     (0.005)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=6$&                  &                  &       0.072{$^a$}\\
                    &                  &                  &     (0.006)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=7$&                  &                  &       0.070{$^a$}\\
                    &                  &                  &     (0.008)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=8$&                  &                  &       0.065{$^a$}\\
                    &                  &                  &     (0.011)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=9$&                  &                  &       0.058{$^a$}\\
                    &                  &                  &     (0.016)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}=10$&                  &                  &       0.000      \\
                    &                  &                  &         (.)      \\
[1em]
Age dummy, 1 years  &                  &                  &       0.000      \\
                    &                  &                  &         (.)      \\
[1em]
Age dummy, 2 years  &                  &                  &       4.118{$^a$}\\
                    &                  &                  &     (0.059)      \\
[1em]
Age dummy, 3 years  &                  &                  &       3.458{$^a$}\\
                    &                  &                  &     (0.057)      \\
[1em]
Age dummy, 4 years  &                  &                  &       2.897{$^a$}\\
                    &                  &                  &     (0.054)      \\
[1em]
Age dummy, 5 years  &                  &                  &       2.326{$^a$}\\
                    &                  &                  &     (0.053)      \\
[1em]
Age dummy, 6 years  &                  &                  &       1.742{$^a$}\\
                    &                  &                  &     (0.052)      \\
[1em]
Age dummy, 7 years  &                  &                  &       1.166{$^a$}\\
                    &                  &                  &     (0.053)      \\
[1em]
Age dummy, 8 years  &                  &                  &       0.623{$^a$}\\
                    &                  &                  &     (0.056)      \\
[1em]
Age dummy, 9 years  &                  &                  &       0.000      \\
                    &                  &                  &         (.)      \\
[1em]
Age dummy, 10 years &                  &                  &       0.000      \\
                    &                  &                  &         (.)      \\
\hline
Dummy for exit in t+1&                  &                  &                  \\
Residuals quantities, FE ikt jkt&      -0.104{$^a$}&      -0.104{$^a$}&      -0.104{$^a$}\\
                    &     (0.002)      &     (0.002)      &     (0.002)      \\
[1em]
\hspace{1cm} $\times$ Age$ \_{ijkt}$&      -0.001{$^a$}&      -0.001{$^a$}&      -0.001{$^a$}\\
                    &     (0.000)      &     (0.000)      &     (0.000)      \\
[1em]
$\widehat{a}\_{ijkt}-\varepsilon^q\_{ijk,t-1}$&      -0.000      &      -0.000      &      -0.000      \\
                    &     (0.001)      &     (0.001)      &     (0.001)      \\
[1em]
Age$ \_{ijkt}$       &      -0.146{$^a$}&      -0.146{$^a$}&      -0.146{$^a$}\\
                    &     (0.001)      &     (0.001)      &     (0.001)      \\
[1em]
age\_ele1\_prior      &      -0.015{$^a$}&      -0.015{$^a$}&      -0.015{$^a$}\\
                    &     (0.001)      &     (0.001)      &     (0.001)      \\
\hline
mills               &                  &                  &                  \\
lambda              &       4.922{$^a$}&       4.922{$^a$}&       4.918{$^a$}\\
                    &     (0.039)      &     (0.039)      &     (0.039)      \\
\hline
Observations        &     1550474      &     1550474      &     1550474      \\
\(R^{2}\)           &                  &                  &                  \\
\hline\hline
\multicolumn{4}{l}{\footnotesize Standard errors in parentheses}\\
\multicolumn{4}{l}{\footnotesize {$^c$} p<0.1, {$^b$} p<0.05, {$^a$} p<0.01}\\
\end{tabular}
}

. eststo clear

. 
. log close
      name:  <unnamed>
       log:  D:\Vicard\VV\re\inprogress\BRV\results\prediction1_selection.log
  log type:  text
 closed on:  29 Sep 2017, 21:31:46
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
